Mukta Arts, Green Gold Animation sign MoU to develop animated IP from film catalogue

Mukta Arts has signed a Memorandum of Understanding (MoU) with Green Gold Animation to jointly develop and produce animated shows and feature films based on Mukta Arts’ iconic intellectual property portfolio.

As part of its strategic push into animation, Mukta Arts launched SGM Animation Studio in 2025 as its dedicated Animation and Games division. The studio will develop, produce and co-produce animated films, series, comic books and games, drawing from Mukta Arts’ four decade old IP library while also creating new original properties rooted in its storytelling legacy.

Founded by Rajiv Chilaka, Green Gold Animation is the creator of some of India’s most successful homegrown animation IPs, including the globally popular Chhota Bheem franchise. The studio has produced hundreds of hours of animated content across television, OTT and feature films.


Under the MOU, the two companies will develop multiple animated IPs inspired by landmark films from Mukta Arts’ catalogue, including Kalicharan, Karz, Hero, Karma, Ram Lakhan, Khalnayak, Saudagar and Iqbal, along with character led spin offs from these universes.

Creative teams from both companies have initiated discussions, with the first project currently in development.

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.”

Subhash Ghai, Filmmaker and Founder, Mukta Arts, added, “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.”