Rumour mills were abuzz that the three-time National Award winner is making a movie on the controversial life of Modi which will be produced by Percept Picture Company (PPC).
"I am not making any film on cricket. I don't know where do these things come from, " Bhandarkar told.
Rumours were also rife that the filmmaker would wield the megaphone to reveal the behind-the-scenes story of award functions, malpractices in hospitals and for a sequel to his 2006 movie "Corporate" with Deepika Padukone in the lead.
"If I go to a hospital to visit someone, the next day I get to read is that I am researching for a movie on the same, which is not the case. But I'm neither making any film on terrorism, award functions or hospital or a sequel to 'Corporate'. I am just taking a break to think about what to make next, " he added.