The designated TADA court on Tuesday convicted actor Sanjay Dutt, finding him guilty under the Arms Act. The court, however, did not find him involved in the 1993 Mumbai blasts conspiracy.

He was found guilty of illegal possession of arms in a notified area. He was in possession of an AK-56 rifle and a 9mm pistol.

However, he was exonerated of the more serious charge of conspiracy in the worst-ever terror attack on the city in which 257 people were killed and several hundred injured.

The minimum sentence for the charges under which Dutt has been found guilty is three years. He has spent almost 18 months in jail as an undertrial.

The 47-year-old actor arrived at the court in Arthur Road along with some of his Bollywood colleagues and family members amid tight security as media persons jostled to catch a glimpse of him.

The verdict has shaken the Bollywood too, as riding on the verdict of the blast accused is Rs 100 crores some of Bollywood's biggest projects. A clear Rs 50 crores is there in unfinished films.

The unfinished projects lined up are Mr Fraud directed by Abbas Mastan with a budget around Rs 20 crores and it is almost 60 per cent complete. Next is Dhamaal directed by Inder Kumar with budget of Rs 10 Crore and it is also half way through. Sarhad Paar directed by Raman Kumar is 80 per cent complete made with a budget of Rs 12 crore.

Then there is Sanjay Gupta's Shootout at Lokhandwala with the budget of Rs 15 crore is also 80 per cent complete.