Subhash Ghai’s Mukta Arts partners with Green Gold Animation to reimagine iconic films as animated franchises

Subhash Ghai’s Mukta Arts partners with Green Gold Animation to reimagine iconic films as animated franchises

• Mukta Arts and Green Gold Animation to co-produce animated films
• Classic Mukta Arts films like Karz and Khalnayak to be reimagined
• First animated project from the partnership is in development

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When legacy meets animation muscle, something interesting tends to happen. This time, it is happening between Subhash Ghai’s production house Mukta Arts Ltd. and Green Gold Animation, the studio behind India’s most successful homegrown animated franchises.

The two companies have signed a Memorandum of Understanding to collaborate on developing and producing animated shows and feature films based on Mukta Arts’ vast intellectual property catalogue. In simple terms, some of Hindi cinema’s most iconic stories are now being reimagined for a new generation in animated form.

As part of its strategic expansion, Mukta Arts launched SGM Animation Studio in 2025 as its dedicated Animation and Games division. The studio is designed to develop, produce and co-produce animated films, series, comic books and games. It will draw from Mukta Arts’ four-decade-old library of films while also building new original properties inspired by its storytelling legacy.

Green Gold Animation, founded by Rajiv Chilaka, brings significant experience to the table. The studio is best known as the creator of the globally popular Chhota Bheem universe and has produced hundreds of hours of animated content across television, OTT platforms and feature films. Its expertise lies in building scalable, character-driven franchises that travel across formats and geographies.

Under the MOU, the two companies will jointly develop multiple animated IPs inspired by landmark Mukta Arts films, including Karz, Hero, Ram Lakhan, Khalnayak, and others from the studio’s celebrated catalogue. The plan also includes character-led spin-offs that expand these cinematic universes into fresh animated worlds.

Creative teams from both sides have already begun discussions, with the first project currently in development. While specific titles and formats remain under wraps, the collaboration signals a serious push toward franchise-building through animation.

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Commenting on the partnership, Rajiv Chilaka said, “This partnership with SGM Studios allows us to apply our experience in building long-lasting animation IPs to a truly iconic film catalogue. Together, we aim to create animated worlds that are rooted in these legendary stories, yet designed to connect with today’s young, global audiences.”

Subhash Ghai added, “Mukta Arts has always believed in creating stories with lasting emotional value. Through animation, we are extending our IP into a new medium for the next generation.”

For Indian entertainment, this move represents more than nostalgia. It is about translating cinematic legacy into long-term, cross-platform franchises in a format that speaks directly to younger viewers worldwide.