Producer Deepak Mukut has reacted for the first time to reports suggesting that he has sold the rights of Nayak to Anil Kapoor for a proposed sequel. Dismissing the speculation, Mukut told Bombay Times that the sequel is being developed jointly and that there has been no standalone transfer of rights.

“I won’t be able to talk much but I can only say that we are doing it together. We are fine with all the rumours, but we are doing it together. It is under process. We will announce it shortly,” Mukut said, addressing the chatter around the project.

Speaking about revisiting the 2001 political drama, the producer stressed the emotional and cultural weight attached to Nayak. “It is a legacy project. It’s been almost 25 years. Every film has its own destiny. When the time comes, it happens. And we realised it is a good time to do it now. We had an understanding and we are doing it together, beyond that I won’t be able to speak,” he added.

When asked about timelines, Mukut made it clear that the makers are proceeding cautiously. “Once the script is locked. Nayak is a big legacy so we will only go on floors when everything is fixed. We are trying for this year,” he said.

Directed by S Shankar, Nayak: The Real Hero starred Anil Kapoor in the role of Shivaji Rao Gaekwad, a television cameraman who is unexpectedly sworn in as the Chief Minister of Maharashtra for a day, only to take on systemic corruption with sweeping reforms. The film also featured Rani Mukerji, Amrish Puri, Paresh Rawal and Johnny Lever in pivotal roles. An official remake of Shankar’s Tamil blockbuster Mudhalvan (1999), Nayak went on to gain a cult following over the years.

While talks of a sequel have surfaced multiple times over the years, the issue of who currently holds the rights to Nayak remains ambiguous, with neither side spelling out the exact legal ownership. For now, Mukut maintains that the sequel is a collaborative effort and that an official announcement will be made once the groundwork is complete.