Producer and Phantom Films co-founder Madhu Mantena has bought shares owned by filmmakers Vikramaditya Motwane, Vikas Bahl and Anurag Kashyap in their joint venture. Phantom Films ran into trouble when sexual harassment accusations were made against Bahl, leading to a split between Bahl, Kashyap and Motwane in October 2018.
Although all four had announced the dissolution of their partnership, they continued to own shares of the production company. Following the exits of Kashyap and Motwane from the company, Madhu has decided to take over the shares of all three of his co-founders.
Phantom Films will now be a joint venture between Madhu's new company Mad Man Ventures and Reliance Entertainment, with both parties holding half of the shares. Earlier, Madhu, Kashyap, Motwane and Bahl held 50% shares while Reliance Entertainment held the other 50%.
Reports suggest that amid reports of the company shutting down, Madhu decided to keep the production company afloat by buying shares from his three co-founders. With Kashyap, Motwane, and Bahl willing to do the same, Madhu was able to find a solution to the deal.
Established in 2013, Phantom Films produced Lootera (2013), Queen (2014), NH10 (2015), Bombay Velvet (2015) and Shaandaar (2015) among others. Reliance Entertainment picked up 50% stakes in it in March 2015. After Kashyap, Motwane, Bahl and Mantena parted ways two years ago, two projects of Phantom Films saw the light of day, Super 30 (2019) and Sacred Games (2020). One venture, 83 (2021), is yet to be released.