Ghai had said last month that Bhansali had shown an interest in remaking the Sanjay Dutt-Madhuri Dixit starrer and the two filmmakers talked about it, but the "Bajirao Mastani" director was yet to buy the rights of the movie.
Later, reports surfaced that Bhansali wanted to make the film with his "Ram Leela..." actor Ranveer.
Denying the speculation, the 52-year-old filmmaker told reporters, "Not at all. That's absolutely wrong news."
The director and his team are happy with the success of their recently released period romance.
"I'm very happy with the response. We all worked hard so I was expecting compliments. It feels great...The collections are growing," he said at the red carpet of 11th Guild Awards.
When asked if Ranveer and Deepika Padukone, with whom he also worked in "Goliyon Ki Rasleela Ram-Leela", are his favourite pair, Bhansali said, "As of now they are my favourite. Let's see if in the future we work together again.
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