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Parag Sanghvi is an Indian film producer and businessman. He is the CEO of the Indian film production company Alumbra Entertainment & Lotus Film Pvt. Ltd.
Wiki/Biography
Parag Madhu Sanghvi was born in 1972 (age 49 years; as of 2021) in Mumbai. He pursued his graduation in business management.
Physical Appearance
Height (approx.): 5′ 8″
Hair Colour: Black
Eye Colour: Black
Family
Parents & Siblings
There is not much information available about his parents and siblings.
Wife
Parag Sanghvi is married to Bunny.
Parag Sanghvi and his wife
Career
After completing his graduation, he started working as a business management professional in a private firm, and in 1990, he developed an interest in film production. Apart from producing films, he has also worked as a financer and distributor in the Indian entertainment industry. He was then appointed as an MD at K Sera Sera, an Indian film production company. Some of his Hindi films as a producer are ‘Darna Mana Hai’ (2003), ‘Ab Tak Chhappan’ 1 & 2 (2004 & 2015), ‘Vaastu Shastra’ (2004), and ‘Golmaal-Fun Unlimited’ (2006). In 2011, Parag started his own film production house Alumbra Entertainment & Lotus Film Pvt. Ltd., and under the banner, he released films like ‘Sarkar’ (2005), ‘The Attacks of 26/11’ (2013), ‘Sarkar 3’ (2017), and ‘Chef’ (2017).
Parag Sanghvi at an event of the film The Attacks of 26/11
In 2016, he took the franchise of the ‘Playboy Club’ (nightclub). He was the first person to bring Playboy Club franchisee to India. In 2017, his business partner, Sachiin Joshi (an Indian actor, producer, and entrepreneur) took full control of the Playboy franchise. On 26 August 2019, he launched a luxurious lounge named ‘B’ in Mumbai.
Controversies
- Tiff with the Business Partner Sachiin Joshi
In January 2021, Parag filed an FIR against his business partner Sachiin Jagdishprasad Joshi. He accused Sachiin of embezzlement of Rs. 58 crore by not paying the royalty amount of Playboy Beer Garden franchise to Parag. According to the local police,
Sanghvi had entered into a contract with Joshi and his partners in Viiking Media And Entertainment Private Limited company. As per the contract, Joshi was supposed to pay the royalty for the franchise of Playboy Beer Garden at Baner and Koregaon Park. However, Joshi has not made the payment to Sanghvi since 2016. Sanghvi had then filed a complaint with Pune police about this. His complaint was investigated primarily by the Economic Offences Wing (EOW) of the Crime Branch of Pune Police. Upon these investigations, FIR has been registered against Joshi. Assistant Police Inspector H M Nanaware is investigating the case.”
- Summoned by the Anti-Extortion Cell
In June 2021, he was summoned by the Anti-Extortion Cell of the Thane Police, Mumbai, along with Sameer Budhha for having a connection with the Indian Premier League (IPL) betting racket.
- Arrested by the Economic Offences Wing (EOW), Mumbai
On 20 December 2021, Parag was arrested by the Economic Offences Wing (EOW), Mumbai, in a real estate fraud of Rs. 13.74 crore. According to the complainant, Mahendra Ranmal Shah,
I purchased three commercial properties on Turner Road in Bandra from a real estate business in 2013 for Rs. 13.74 crores. One was rented to Alumbra Entertainment, where Sanghavi is a director, and the other two were rented to a different company. He sold the rented flats to another person.”
The local police said,
An offense under the appropriate section of cheating, forgery, and criminal conspiracy based on the complaint has been files. He has been charged with a few more offenses.”
Facts/Trivia
- In 2010, Parag and his wife Bunny were duped by Parmeet Arora (former banker) of around Rs. 60 lakh. Arora used to attend celebrity parties and used to earn the trust of the celebrities by befriending them. According to the local police,
During her (Parmeet) interrogation, we secured the details of her two bank accounts. One of her bank accounts has just Rs 52 while the other has a sum of Rs 1,500. Arora claimed she had given the money to her former husband Vikarm Singh to win back his affection. Singh and Arora got divorced in 2009 and Singh now stays with his family in Aurangabad. Arora claims she had given the money to Singh as she wanted him back in her life. We have contacted Singh’s family in Aurangabad, but they refuted her claims.”
The local police added,
Nevertheless, we have contacted Vikram Singh and have told him to come to Mumbai to help us with the probe. He would reach Mumbai by tomorrow and we will record his statement too. The Amboli police arrested Parmeet Arora alias Sonia, on last Thursday. The alleged con was unearthed when the chartered accountant of the Sanghvi family stumbled upon discrepancies in their ledger. Arora has been remanded in police custody till October 27.”
- He loves to party with his friends in his leisure time.