Dev Anand refuses Reliance’s offer for Rs. 1.3 billion

Mumbai :Evergreen veteran Dev Anand has refused an offer of Rs. 1.3 billion (Rs. 130 crore) from Reliance to sell his Anand Recording Studio situated at Pali Hill, Bandra (West), Mumbai. Instead he preferred to raise his own funds for upgrading the studios. It is also learnt that IDBI Bank has offered him a loan of Rs. 50 million (Rs. 5 crore).

Dev Anand was furious on learning this news. “We are not taking any assistance from anyone, neither from Reliance nor from IDBI.”

He adds, “We have our own funds and are upgrading the studios to meet today’s standards. The Navketan banner was not born yesterday. It boasts of its existence since decades and enjoys a repute of its own.” He further informs, “Apart from the studio we are planning multiple movies too.”

Dev Anand’s son Suneil Anand who manages the studio says, “The studio will import sound re-recording equipment from abroad. Further the studio will be one of the state-of-the-art and will be the technologically most advanced