Nor has he stopped meeting newcomers because he has "full confidence" in his own conduct, the prolific director-producer tells.
"Such absurd scandals don't have anything to do with me. People say I've installed cameras in my office to make sure newcomers don't make nasty accusations. That's completely false.
"There're no cameras anywhere in my office. I've full confidence in my own conduct. I don't need to preempt some desperate newcomer's behaviour and start acting paranoid.
"Scandals and accusations are a part and parcel of the entertainment industry. It's how you conduct yourself that matters."
But isn't it a fact that Varma - who has discovered or re-invented the careers of names like Urmila Matondkar, Manoj Bajpai, Fardeen Khan, Aftab Shivdasani and Vivek Oberoi - has stopped seeing aspirants?
He begs to differ. "Not at all. I'm still as open to new talent as I used to be. I had to put an end to newcomers crowding outside my office for security reasons. Too many people with too many dreams began to believe I can make them come true. I'm neither a magician nor a star-maker. I don't know why aspirants believe all they need is a film with me to become a star.
"I've only cast those newcomers whom I've found suitable for my films. Isha Koppiker, for instance, shot to fame with the item song 'Khallas' in my 'Company'. I saw her in that number. I didn't accommodate her just to give her a chance. I'm too selfish to give anyone a chance out of sympathy or for the future of Indian cinema."
Varma says sting operations aimed at exposing the casting couch were "absurd" and that he had nothing to do with such scandals.
"The so-called sting operations don't really seem to make any sense to me. I don't know what they hoped to achieve beyond getting people interested in the news channel,"tells Varma.
"As for the repercussions of the sting operations, I don't think producers would stop meeting aspirants just because someone has laid a trap for a couple of unsuspecting victims.
"The film industry constantly needs new talent to keep going. I'm introducing Mohit Ahlawat this year in 'James', and Randeep Hooda. I feel both have the potential to become stars. In fact, Ahlawat will shock the audience. As long as I need new exciting faces for my film I'll continue to cast them.
Does Varma think filmmakers are gravitating more and more towards talent from inside the industry?
"There's nothing wrong with a star-kid if he happens to be as talented as Abhishek Bachchan. Beyond a point contacts, links or pedigree can't take a newcomer anywhere."