Close on the heels of buzz that Boney Kapoor was no longer a part of Sahara's motion picture division, we hear that the company heads have already found a replacement for him.

We learnt that Sandeep Bhargava, who has previously headed Studio 18 and The Indian Film Company as CEO, has been appointed in Boney's place.

A source states, `Bhargava has joined on board Sahara One Motion Pictures, as of January 2013. He has overseen many successes like Jab We Met, Welcome, Golmaal Returns, Singh Is Kinng and Ghajini, amongst others during his tenure.`

Industry insiders say that Bhargava was also instrumental in raising 110 million dollars and listing the Indian Film Company at the AIM- London Stock Exchange.`

The source adds, `He will now finalise the next projects under the production house that has not announced new projects in the recent past.`