New Delhi: Mukta Arts Ltd. and Green Gold Animation have signed a Memorandum of Understanding (MOU) to collaborate on the development and production of animated television shows and feature films based on Mukta Arts’ iconic intellectual property portfolio.
The partnership marks a strategic step in Mukta Arts’ expansion into the animation space. In 2025, the company launched SGM Animation Studio as its dedicated Animation and Games division, focused on developing, producing and co-producing animated films, series, comic books and games. The studio aims to leverage Mukta Arts’ four-decade-long content library while also creating new original properties inspired by its storytelling legacy.
Green Gold Animation, founded by Rajiv Chilaka, is widely regarded as one of India’s leading animation studios and the creator of successful homegrown franchises such as Chhota Bheem. With extensive experience across television, OTT and feature-length animation, the studio brings expertise in building scalable, character-led universes with global appeal.
Under the MOU, the two companies will jointly develop multiple animated IPs inspired by landmark titles from Mukta Arts’ celebrated catalogue, including Kalicharan, Karz, Hero, Karma, Ram Lakhan, Khalnayak, Saudagar and Iqbal, among others. The collaboration will also explore character-led spin-offs emerging from these cinematic universes.
Creative discussions between the teams have already commenced, 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 Ltd., 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.”
The MOU signals a broader trend of legacy film studios unlocking long-tail value from their IP libraries through animation and transmedia storytelling, positioning the collaboration as a potentially significant move in India’s evolving content and franchise ecosystem.
