A CNN-IBN and Cobrapost expose has caught big film producers and directors like Anubhav Sinha, director of Ra.One, and Vashu Bhagnani, producer of Coolie No.1, explaining how an investor can convert his or her black money into white by investing in their films. Kabir Bedi, an actor who has been in the industry for decades, says that black money in Bollywood is an exception and not a rule.
"Film industry is clean relative to many other industries today. What you have seen in the expose is more the exception than the rule," Kabir Bedi said to CNN-IBN.
Bedi also said that he was shocked see the expose as he believes that the corporatization of the film industry has wiped out the black money.
"I am shocked and surprised like most of the industry is to see the expose," he said.
"The amount of corporatisation that has happened has virtually wiped out the black money from the industry so much so that smaller producers who are not corporates are insisting on paying in white money," he added.
Bedi also said that the sting operation should have been conducted in other industries were black money is rampant.
"I wonder why you would conduct the sting operation against the film industry and not in industries were it is the rule to have black money and not white," he said.
"Its a very risky way to try and convert black money to white money through Bollywood were 7 out of 10 films are failures," he added.