"Sanjay was so impressed with the kind of action sequences Tinu had created for 'Acid Factory' that he decided to gift him the watch. It was Sanjay's way of showing that he admired Tinu's professionalism and work, " said a source close to Gupta.
"Acid Factory" is Gupta's latest venture and stars Fardeen Khan, Dia Mirza, Aftab Shivdasani, Irrfan Khan, Dino Morea, Manoj Bajpai and Danny Denzongpa.
Varma was apparently moved by Gupta's gesture.
"I have always felt White Feather Films (Gupta's production company) to be like my own production house. I've given my heart and soul to it. 'Acid Factory' is extremely special to me and I have done every bit to make the action sequences as thrilling as possible, " the action director said.
"Besides innovative action sequences, we have also used every other possible trick. I'm looking forward to the film's release since 'Acid Factory' is my best and biggest film till date, " Varma added.