From Kalicharan to Khalnayak: Mukta Arts and Green Gold Animation to Bring Iconic Films to Animated Worlds

Mumbai: Renowned filmmaker Subhash Ghai’s company Mukta Arts has announced a partnership with Green Gold Animation to develop and produce animated shows and feature films based on Mukta Arts’ iconic intellectual property (IP). The collaboration was formalized through a memorandum of understanding (MoU).
As part of its strategic expansion into animation, Mukta Arts launched SGM Animation Studio in 2025—a dedicated division for animation and gaming. The studio focuses on creating, producing, and co-producing animated films, series, comic books, and games. Leveraging four decades of Mukta Arts’ rich IP library, the studio will also develop new original properties inspired by the company’s legacy of storytelling.
Under this MoU, Mukta Arts and Green Gold Animation will jointly develop multiple animated IPs inspired by Mukta Arts’ celebrated films. Key projects include animated adaptations and spin-offs of films such as Kalicharan, Karma, Karz, Hero, Ram Lakhan, Khalnayak, Saudagar, Iqbal, among others, focusing on both their stories and iconic characters.
Commenting on the collaboration, Rajiv Chilaka, Founder & CEO of Green Gold Animation, said, “This partnership with SGM Studio allows us to apply our expertise in creating long-lasting animated IPs to a prestigious film catalog. Together, we aim to build animated worlds that honor these classic stories while connecting with today’s global youth audiences.”
Subhash Ghai, Founder of Mukta Arts, added, “Mukta Arts has always believed in creating emotionally engaging stories. Through animation, we are expanding our IP into a new medium for the next generation.”
This partnership is seen as a significant step in bringing the legacy of Indian cinema to global audiences using new technologies and formats.