Anurag Kashyap might have confessed that the failure of "Bombay Velvet" at the box-office gave him nightmares, but the director is not planning to reimburse the production cost of the film.

Kashyap refuted reports which suggested that he will be returning the production cost of his most-ambitious project, which featured Ranbir Kapoor and Anushka Sharma.

He tweeted: "Mumbai Mirror report about the money refund is totally baseless. It is factually wrong and no effort was made to reach out to any of us."

There were some reports which read that Kashyap along with Phantom Films co-founders and close friends Vikramaditya Motwane, Madhu Mantena and Vikas Bahl was thinking of returning the entire production cost of "Bombay Velvet" to Fox Star Studios, the producers and distributors of the film.

The movie is set in the 1960s and is a large screen adaptation of Gyan Prakash's "Mumbai Fables". The story is about a man with big dreams and the extent to which he is willing to go to be successful. It also marked Karan Johar's big acting debut with a villainous role.

When asked about "Bombay Velvet", Kashyap had last year said: "Money is the biggest nightmare. The more you minimize the cost of the film, it works.

"I just made an expensive film which is probably the biggest loss-making film in the history of cinema. You cannot understand the nightmare I go through every day knowing about all the money lost. I will never do that again but it teaches you a lesson and weighs down on you."