Mumbai: In a landmark move that bridges classic Indian cinema with cutting-edge animation, Mukta Arts and Green Gold Animation have announced the signing of a Memorandum of Understanding (MoU) to develop and produce animated shows and feature films based on Mukta Arts’ celebrated intellectual properties (IPs).
The collaboration marks a strategic expansion for Mukta Arts into the fast-growing animation space. In 2025, the company launched SGM Animation Studio, a dedicated animation and gaming division focused on the development, production, and co-production of animated films, series, comic books, and games. The studio aims to leverage Mukta Arts’ rich IP library, built over four decades, while also creating new original properties inspired by its storytelling legacy.
Under the MoU, the two companies will jointly develop multiple animated IPs inspired by Mukta Arts’ iconic films. The slate includes animated adaptations and character-driven spin-offs from classics such as Kalicharan, Karz, Hero, Karma, Ram Lakhan, Khalnayak, Saudagar, and Iqbal, among others. These projects are expected to reimagine beloved characters and narratives in vibrant, contemporary animated formats designed to resonate with younger audiences and global markets.
Speaking about the collaboration, Rajiv Chilaka, Founder and CEO of Green Gold Animation, said the partnership represents a significant opportunity to build enduring animation franchises from a prestigious cinematic catalogue. “Our association with SGM Studio allows us to apply our experience in creating long-running animated IPs to some of the most iconic stories in Indian cinema. Together, we aim to build an animated universe that stays true to these legendary narratives while connecting with today’s global youth audience,” he said.
Green Gold Animation is widely recognized for creating successful animated franchises that have achieved both domestic popularity and international distribution. The studio’s expertise in character development, merchandising, and multi-platform storytelling is expected to play a crucial role in transforming Mukta Arts’ film legacy into sustainable animated brands.
Founder and veteran filmmaker Subhash Ghai emphasized the emotional core of Mukta Arts’ storytelling tradition. “Mukta Arts has always believed in crafting emotionally engaging stories. Through animation, we are extending our IP into a new medium for the next generation,” he said. Ghai added that animation provides limitless creative possibilities to reinterpret classic narratives while preserving their essence.
Industry observers see the partnership as a significant step in monetizing legacy film libraries through new-age formats. With the rapid growth of digital streaming platforms, children’s programming, and gaming ecosystems, animated adaptations of established cinematic properties offer a powerful avenue for cross-generational engagement.
The collaboration also reflects a broader trend in the Indian entertainment industry, where established film studios are exploring animation, gaming, and immersive storytelling formats to expand their global footprint. By combining Mukta Arts’ storytelling heritage with Green Gold’s animation expertise, the initiative aims to create a cohesive animated universe rooted in nostalgia yet tailored for contemporary audiences.
As development work begins, the partnership is expected to unveil its first slate of projects in the coming months. If successful, the venture could redefine how classic Indian films are preserved, reimagined, and introduced to new audiences—ushering in a vibrant animated era for some of Bollywood’s most iconic stories.
