Chief Fire Officer Prabhat Rahangdale of the Mumbai Fire Brigade said that the FIR was lodged at NM Joshi Marg police station because the studio had unauthorisedly stored huge amounts of celluloid film and scrap which fed the fire.
A senior police official said that a case had been registered under Section 285 of the Indian Penal Code, dealing with negligent conduct with respect to fire or combustible matter.
The building that houses the studio is dilapidated and unoccupied, said officials.
The site of Friday's fire is just a few hundred metres away from Kamala Mills coumpound where a devastating fire in the early hours of December 29 left 14 persons dead.
Earlier this month, a huge fire had gutted Cinevista studio in suburban Kanjurmarg, killing an audio assistant there.