Celebrity management firm Kwan Entertainment’s founding partners are buying out the stake of cofounder Anirban Blah in joint venture retail company Mojostar, two people said. ‘
Blah has stepped down as director of Mojostar after accusations of sexual harassment by several women, which had earlier led to his exit from Kwan Entertainment.
“Anirban Blah has resigned from Mojostar in light of the recent allegations,” Jiggy George, founder and chief executive officer at Dream Theatre and founding partner of Mojostar, said in response to ET’s query. “We are a separate operation from Kwan. The team, partners, artistes, brands and operations continue.” George said he was not in a position to comment on Blah’s stake sale or other related details.
A query sent to Kwan cofounder Indranil Blah on the purchase of his brother Anirban Blah’s holding elicited no response till the time of going to press. Mojostar is a JV between Kwan and Dream Theatre, a brand licensing and marketing firm. The JV was set up last year, with Anirban Blah holding majority stake.
When the JV was formed, Kwan and Dream Theatre had said the partnership would leverage celebrities and invest $30 million to create powerful retail brands over two years. At least five women have accused Blah of sexual harassment and have alleged that he indulged in predatory behaviour many times. The #MeToo movement in India has led to scores of women outing well-known names across sectors. They include actors Alok Nath and Nana Patekar, brand consultant and social commentator Suhel Seth, author Chetan Bhagat and former junior external affairs ministers MJ Akbar.
Kwan asked Blah to step down soon after the allegations surfaced. “The other 10 partners in Kwan have decided to take over the entire stake of Anirban Blah in Kwan to ensure his exit. In this regard, the partners and Anirban will enter into the necessary legal documentation to ensure the exit is in accordance with the law,” Kwan said in a statement last week. Blah is said to have attempted suicide last weekend.
The agency, the biggest in the celebrity management space in the country, represents leading actors such as Ranbir Kapoor and Deepika Padukone. Padukone’s Live Love Laugh Foundation had also said that Blah ‘no longer holds the position of trustee of the foundation and will not participate in its activities and programmes henceforth.’
A statement issued by the foundation read: “In light of the recent allegations of inappropriate conduct brought against our trustee Anirban Das Blah, Mr Blah has tendered his resignation to the board of trustees. The Live Love Laugh Foundation has a strict zero tolerance policy with respect to any form of sexual harassment, exploitation or abuse.”
Source: Economic Times