India, Feb. 23 -- After reports of Ranbir Kapoor reviving late actor-filmmaker Raj Kapoor's production house RK Studio surfaced, claiming that he has signed a 20-year lease for a massive space in Mumbai, a source close to the family calls it "baseless".

"No such plan or deal is underway. Agar koi aisi cheez hogi, toh hum khud saamne se batayenge. Aisa kuch bhi nahin hai. The entire news is baseless, whether it's coming from any big or small news portals," the source tells us.

The denial comes amidst detailed reports suggesting that Ranbir and his cousin Karisma Kapoor were in talks for the project and had leased five floors in the Kanakia Wall Street Commercial Building in Andheri East, Mumbai, to establish the new studio.

When specifi...