From Kalicharanan to Khalnayak: Mukta Arts & Green Gold Animation Partner to Bring Iconic Films to Animation

Mukta Arts & Green Gold Animation to Turn Kalicharan, Karz, Khalnayak and More into Animated Worlds

Subhash Ghai’s Mukta Arts and Green Gold Animation Announce MOU to Develop Animated Shows and Films from Mukta Arts IP

Mumbai: Mukta Arts and 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 is focused on developing, producing and co-producing animated films, series, comic books and games, leveraging Mukta Arts’ rich IP library built over four decades, along with creating new original properties rooted in the company’s storytelling legacy.
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. 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 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.”