Mumbai (Maharashtra) [India], February 18 (ANI): Subhash Ghai's Mukta Arts Limited and animation company Green Gold Animation have announced the signing of a Memorandum of Understanding (MOU) to collaborate on the development and production of animated shows and feature films based on Mukta Arts' iconic intellectual property portfolio.

As part of its strategic expansion into animation, Mukta Arts launched SGM Animation Studio in 2025 as its dedicated Animation and Games division.

The studio focuses on developing, producing, and co-producing animated films, series, comic books, and games, leveraging Mukta Arts' rich IP library built over four decades, as well as creating new original properties rooted in the company's storytelling legacy, as per the press note.

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.

Under the MOU, Mukta Arts and Green Gold Animation will work together to develop multiple animated IPs inspired by landmark films from Mukta Arts' celebrated catalogue, including Kalicharan, Karz, Hero, Karma, Ram Lakhan, Khalnayak, Saudagar, Iqbal and more, along with character-led spin-offs from these universes.

Creative teams from Mukta Arts and Green Gold Animation have already initiated discussions, with the first project currently in development, as per the press note.

Commenting on the collaboration, Rajiv Chilaka, Founder and CEO, Green Gold Animation, said, 'This partnership with SGM Studios allows us to apply our experience in building long-lasting animation IPs to a truly iconic film catalogue. Together, we aim to create animated worlds that are rooted in these legendary stories, yet designed to connect with today's young, global audiences,' as quoted in a press note.

Subhash Ghai, Filmmaker and Founder, Mukta Arts Ltd. '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.'

Founded in 1978 by Subhash Ghai, Mukta Arts Ltd. is a leading Indian film production company with a celebrated catalogue of iconic films and enduring intellectual property. The company is expanding into animation and gaming through SGM Animation Studio to build new-age franchises from its rich IP library.

The Green Gold Animation was founded in 2001 by Rajiv Chilaka. It is one of India's leading animation studios and the creator of the globally popular Chhota Bheem franchise, specialising in scalable, character-driven animation IPs for India and the global market. (ANI)