Sagar Arts happens to be one of the oldest production houses helmed by Sagars, a once influential filmmaking family in Bollywood that was headed by Ramanand Sagar (mythological TV serial makers)!
Horror has always been the favorite of filmmaker Vikram Bhatt probably this is the reason why he is producing horror films back-to-back. After Haunted, Raaz 3, now it is 1920 Evil Returns.