MUMBAI: The Kapoor family has decided to sell off the landmark RK studio -- 70 years after it was established -- as it was not "economically viable" to rebuild it after it was gutted down in a fire last year.
Founded by legendary actor Raj Kapoor in 1948 in suburban Chembur, the studio witnessed several films made by the Kapoor family over the decades.
The film studio is named after legendary Bollywood actor Raj Kapoor and is owned by the RK Film Production Company. It was until recently operational under the supervision of actor Rishi Kapoor.
On September 16 last year, a major fire broke out on the sets of dance reality show "Super Dancer" at the studio in which its ground floor was gutted.
Police had told media that the fire was confined to electric wiring, electric installation, decoration equipment in the 100x80 sq ft area on the ground floor of the iconic studio building.
Primary investigation had revealed a short circuit might have caused the blaze.
No casualty was reported in the mishap. While Rishi Kapoor had earlier expressed a desire to rebuild the studio with "state-of-the-art technology", his brother Randhir said it was not practical.
"Yes we have taken the decision to sell RK Studio. It is already up for sale. After the fire that broke at the studio it was not viable to build the studio again. It was not economically viable to do it again," Randhir told PTI.
The films made under the RK banner include "Aag", "Barsaat", "Awaara", "Shri 420", "Jis Desh Mein Ganga Behti Hai", "Mera Naam Joker", "Bobby", "Satyam Shivam Sundaram", "Ram Teri Ganga Maili", among others.
The last film made under the banner was Rishi Kapoor-directed "Aa Ab Laut Chalen". When Raj Kapoor passed away in 1988, his elder son Randhir took over the studio. Later, his younger brother Rajiv Kapoor directed "Prem Granth".
In its heyday, the studios used to witness the star-studded Holi celebration that Raj Kapoor used to host.
Talking to Mumbai Mirror, Rishi Kapoor had quipped that though the family juggled with the idea of renovating the studio, "in reality it isn't always possible for a phoenix to rise from the ashes".
(With inputs from Online Desk)