Just a few months back, Dr. Modi of the Spice group had announced his entry into the Indian entertainment industry with Anil Kapoor's ‘No Problem' and Ashutosh Gowariker's mega budget film ‘Buddha'.

‘Buddha' was to be a costly project, entailing an investment of around Rs. 100 crore. Eyebrows had then been raised in industry circles about the logic behind such a huge investment in a film. Well, the apprehensions of industry seem to have reached Modi be cause the project has been shelved.

Our reliable sources have informed us that ‘No Problem' is the only film Spice is financing, after which the entertainment division of Spice will close down.

Reportedly, Singapore-based Modi and his financial advisors feel, it is not safe to finance Bollywood films. In other words, the risk is far too much for the multi-crore group of Spice to take.