This could be heartbreak for thousands of fans who were eagerly waiting for it, particularly to see the duo, Kareena Kapoor and Hrithik Roshan together after so many years again.
The film had created a magic on-screen with six superstars together – Amitabh Bachchan, Jaya Bachchan, Shahrukh Khan, Kajol, Hrithik Roshan and Kareena Kapoor.
Calling K3G "the pillar film of Dharma", Karan said: "It was my father Yash Johar's most favourite film. He liked K3G even more than my first film Kuch Kuch Hota Hai. That alone makes K3G more special to me."
"Kabhi Khushi Kabhie Gham" is rated to be the best Family flick till date, not only in India but also overseas.
However, Karan considers it a unique movie that cannot be repeated.
"I don't think I can write a screenplay to justify the magnetism of these actors. Recreating the kind of history this film has enjoyed, may not be possible. I'm scared that I may not be able to strike the same emotional chord once again.
"Since I don't wish to bring even the slightest blemish to K3G, a sequel is ruled out, " he said.