Feb 18, 2026 2:36pm IST
Subhash Ghai and Green Gold Animation Announce MoU to Develop Animated Shows, Films from Mukta Arts IP (EXCLUSIVE)
Filmmaker Subhash Ghai’s Mukta Arts Ltd. and Green Gold Animation have announced signing an MoU(Memorandum of Understanding) to team up for developing and producing animated shows and feature films based on Mukta Arts’ iconic intellectual property portfolio.
As part of its expansion into animation, Mukta Arts launched SGM Animation Studio in 2025 as its dedicated Animation and Games division. The studio is focused on developing, producing and co-producing animated films, series, comic books and games, leveraging Mukta Arts’ IP library built over four decades, along with creating new original properties rooted in the company’s storytelling legacy.
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Green Gold Animation, founded by Rajiv Chilaka, is India’s leading animation studio and the creator of some of the country’s most successful homegrown animation IPs, including the globally popular “Chhota Bheem” universe.
Mukta Arts and Green Gold Animation’s creative teams have already begun discussions, with the first project currently in the works.
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Talking about the collaboration, Rajiv Chilaka, founder and CEO of Green Gold Animation, says, “This partnership with SGM Studios allows us to apply our experience in building long-lasting animation IPs to a truly iconic film catalog. 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, filmmaker and founder of Mukta Arts Ltd., adds, “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.”
Under the MoU, Mukta Arts and Green Gold Animation will work together to develop multiple animated IPs inspired by landmark films from Mukta Arts’ catalog, including “Kalicharan,” “Karz,” “Hero,” “Karma,” “Ram Lakhan,” “Khalnayak,” “Saudagar,” “Iqbal” and more, along with character-led spin-offs from these universes.
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