He quit the company in 1992 and leased out a soybean crushing unit called Action Management Group, however changing government policies meant that the industry did not remain profitable.

It focuses on creating, producing, and developing media properties in live events and also manages shows and concerts in India and abroad.

The company works in multiple areas that include television shows, Bollywood movies and music, corporate seminars and training, education workshops, and various promotional and entertainment events in India and overseas.

[6] This led to the opening of Carnival Cinemas' first theatre in Angamaly which was built on the top floor of a bus terminal complex.

[8] Bhasi and Carnival's next major step was the acquisition of Anil Ambani owned Big Cinemas with 250 screens across the country for around Rs 700 crore.