Hamsini Entertainment collapse: £10m linked to Balaji Subbu as investors seek answers

An overseas Tamil film distributor associated with major releases has entered administration, with growing concerns surrounding investor money, deal structures and millions of pounds reportedly involved.

Hamsini Entertainment Ltd, an overseas Tamil film distributor founded by Balaji Vishwanath Subbu and his associate Vivek Ravichandran, founder of Huebox Studios, with sources also pointing to Deepa Iyer as a reported silent partner who is said to have played a role in bringing investors into the business, is now under external administration in the United Kingdom — a step typically taken when a company can no longer meet its financial obligations.

The firm had built its profile by distributing Tamil films featuring leading actors including Rajinikanth, Vijay, Dhanush, Kamal Haasan and Sivakarthikeyan.

Attention is now shifting beyond the collapse itself, with questions being raised around how the business operated.

Investor-backed model under scrutiny

According to industry sources, Hamsini’s operations relied significantly on external investors.

Participants were offered opportunities to invest in individual film distribution deals, either through smaller percentage stakes or by funding full territorial rights, with returns linked to the commercial performance of the films.

Investment levels are understood to have ranged from around £5,000 to significantly larger sums.

Sources familiar with these arrangements say there were instances where deal structures were not clearly understood, with concerns raised around overlapping agreements, allocation of rights and how returns were calculated.

Companies House filings point to secured lending

Public records from UK Companies House show that Hamsini entered into a secured lending agreement with Bluestar Global Capital Limited in August 2025.

The agreement included both fixed and floating charges, effectively giving the lender security over a wide range of the company’s assets.

While the full value of the arrangement is not disclosed, sources indicate that one of the largest contributions came from Bluestar and its founder, Nayan Thakrar.

Approximately £6 million is reported to have been linked to a deal involving the Tamil film Coolie, starring Rajinikanth.

Sources also claim that Hamsini Entertainment and Balaji Subbu have been referencing future projects to attract further investment. In particular, it is being suggested in investor circles that a potential association with Sun Pictures on a forthcoming Rajinikanth-led project, widely speculated to be Jailer 2, has been mentioned as part of investment discussions.

These claims remain unverified, and it is unclear whether any such agreement exists. However, some individuals familiar with previous dealings have raised concerns that similar narratives have been used in the past to attract investor interest, prompting further questions about how such opportunities are being presented.

It also remains unclear why Sun Pictures would consider any association amid the growing controversy, repeated investor complaints, and ongoing allegations surrounding Hamsini Entertainment.

Following the release, it is understood that attempts have been made to recover funds, although the current position remains unclear. As the lending sits at company level, any recovery would depend on the company’s remaining assets.

Thakrar is also associated with Eden Parfums, a London-based business involved in global fragrance licensing, including products linked to Cristiano Ronaldo.

Wider network of investors

Industry contacts suggest that Bluestar was one of several parties involved.

A broader group of investors — including both business figures and private individuals — are believed to have participated across multiple deals.

Amirtha Raman of HolyCow! Ventures is among those said to be seeking clarity on investments.

It is also understood from discussions with sources that Deepa Iyer may have introduced certain investors to opportunities connected to Hamsini, although the exact nature of this involvement remains unclear.

Individual accounts highlight impact

“I was introduced to Balaji through a third party, Deepa Iyer, who assured me the investment was secure and structured properly. Those assurances have since proven to be completely unreliable, and I have not recovered any of my funds.”

— one investor

“Deepa Iyer was the one who brought this opportunity to me and strongly encouraged the investment. I later came to understand there may have been a financial incentive behind that introduction, and I’ve since been unable to get any clarity or response.”

— another investor

“Everything was presented through Deepa Iyer — the deal, the assurances, the confidence behind it. Without that introduction, I would never have invested. Now, both her and Balaji are unreachable, and my entire investment is gone.”

— a London-based investor

“I have tried repeatedly to contact Balaji for answers, but instead I was warned about potential police action for harassment. Meanwhile, I am the one who has lost everything I invested.”

— another investor

Several accounts from investors have begun to emerge.

Multiple individuals described similar experiences, raising broader concerns about how these investment opportunities were presented and managed.

One London-based individual reported investing approximately £300,000, describing it as their life savings, and has not received any return.

Another individual is said to have sold their home to invest around £400,000 into a film distribution deal, later being informed that the project had not performed and the investment was lost.

In a further case, approximately £350,000 was invested across three films. The investor was told the projects resulted in losses, although sources familiar with the matter claim those films generated more than £1 million at the UK box office.

While these accounts cannot be independently verified, multiple similar experiences have been referenced.

Estimates from sources suggest total money linked to the matter could approach £10 million (₹130 crores).

Attempts to make contact

Sources in the UK indicate that efforts have been made to contact Balaji Subbu directly.

According to those familiar with the situation, individuals have visited an address believed to be linked to him but were unable to make contact.

Limited public profile noted

Observers have also pointed to the limited public presence of Balaji Subbu.

Despite involvement in high-value deals, there appears to be little publicly available imagery or consistent social media activity associated with him, making independent verification of background more challenging.

Past business links revisited

Companies House records show that Balaji Subbu was previously associated with Spectromax Solutions, now known as DEXRA Solutions Limited, alongside Dominic Prabhu.

Prabhu was later linked to a Scottish Government IT programme that came under scrutiny following a BBC investigation. The report raised concerns around contractor arrangements and potential conflicts of interest.

The project’s cost increased from approximately £102.5 million to £178 million, prompting further examination.

BBC reporting also highlighted concerns relating to staffing structures and visa-related matters.

During the same period, Spectromax Solutions saw a significant increase in value, with assets rising from around £81,000 in 2014 to approximately £3.5 million in 2015.

Records show that Balaji Subbu was a director and partner in the company at that time.

Prabhu is also known for his connection to the Tamil film industry as the husband of actress Sindhu Menon.

Future projects raise questions

Prior to entering administration, Hamsini is understood to have been exploring involvement in upcoming film projects, including major releases such as Jailer 2 and other productions.

This has led to further questions around how such deals were being funded and structured.

What happens next

The scale of the allegations, the number of individuals now speaking out, and the amounts involved have pushed this into one of the most serious ongoing situations in overseas Tamil film distribution.

The names Balaji Subbu, Vivek Ravichandran, Deepa Iyer and Hamsini Entertainment are now repeatedly being linked across multiple accounts. Anyone considering involvement is strongly advised to exercise extreme caution, as the pattern described points to significant financial risk, loss of funds, and serious consequences. With scrutiny increasing, the full scale of what has taken place may be far greater than initially understood.