"I don't believe in running after Oscars. India has given me three National Awards. They are my Oscars," Bhandarkar said.

The director, however, says he has no objection if his films are selected by the jury for Oscars but he is not ready to be part of the hype and attention that surrounds these awards in India.

"Recognition of Indian people matters the most as they are the main viewers of my films," says Bhandarkar.

Bhandarkar's National Award winning films like Chandni Bar (2001), Page 3 (2005) and Traffic Signal (2007) are famous for their strong story-lines and often have a female protagonists as lead characters.

"My latest film is about the emotional journey of a model played by Priyanka Chopra. This film is going to be a landmark in Priyanka's acting career. She has never before played a character with such substance," he says.

So, how did the idea to make a film on fashion industry come?

"I have attended several fashion shows as a guest but it never attracted my attention much but when I saw that media was taking such interest and devoting special shows, I became curious. I decided to decipher the mystery of fashion to the common public. It is not about pretty faces doing catwalk. I wanted to go behind the screens and bring back other aspects of the industry to the viewers," says the director known for his well researched movies.

The film, which also features Kangana Ranaut, debutant Mugdha Godse, Manish Malhotra, Arjan Bajwa among others, is the most ambitious project of the director with a budget of over 18 crores. Notably, the budget of his earlier films did not cross beyond 5 crores.

Fashion will release across the globe with over 700 prints on this Diwali.

Bhandarkar is famous for exposing dark secrets of society through his films and the speculations are already high that his upcoming movie will also unlock some major secrets related to the industry.

"Fashion is not going to demean anyone from the industry. I am not criticising anybody in the film," he says rubbishing the media reports.

Asked whether he was approached by the industry insiders with the apprehensions related to the subject of the film and Bhandarkar says, "Yes, I won't take names but some well known figures from the industry came to me. They were slightly apprehensive as to how I will depict the industry in my film.”

"But I have assured them (industry people) and have told them to wait for the release then come to any conclusion," he adds.