20th anniversary EXCLUSIVE: Madhur Bhandarkar says corporate booking, in a healthy manner, began with Corporate: "Half-day was declared in some offices; employees were encouraged to watch the film"; reveals, "Many people STOPPED consuming soft drinks after watching it!" July 7, 2026 at 03:13PM

Corporate (2006) completed 20 years on July 7 and it’s a film that Madhur Bhandarkar considers his favourite. Starring Bipasha Basu, Kay Kay Menon, Raj Babbar and Rajat Kapoor, the film was loved for its subject, shocking climax, performances, music, etc. Despite dealing with the complex worlds of corporate business and the stock market, the narrative was easy to understand, an aspect that was widely praised by audiences and critics alike. On Corporate’s 20th anniversary, Madhur Bhandarkar went down memory lane and shared fascinating trivia.

You had made Page 3 (2005) and it was a sleeper-hit. What made you make a film on the corporate world at that stage?

Corporate was a film which was ahead of its time. It was a very different world for me. I didn’t have a story. The title fascinated me and I decided to make Corporate, obviously based on the corporate world. I collaborated with writer Manoj Tyagi, who had written Satta (2003) and Page 3 with me. He was an MBA guy and had a lot of knowledge, unlike me, about the corporate world.

After Page 3, I received a lot of backlash from the corporate people and socialites. A lot of people believed that we had exposed the underbelly of the high-end rich people. Hence, many were reluctant to give us access to their boardrooms (laughs)! They feared I’d expose them as well.

Nevertheless, I managed to do my research and met a lot of people in Mumbai and Delhi. We zeroed in on the rivalry between two soft drink giants as the crux of the story. We also focused on the nitty-gritties of these people and their superstitions. For instance, we showed Raj Babbar’s character wearing a ring according to the day of the week. The film was 70% inspired by real life. We took real incidents that happened at that time.

I met people not just from the corporate world but also the financial side. Several finance journalists also shared interesting inputs. I believe it was a well-scripted film and slickly cut.

Was Bipasha Basu the first choice?

She came to my mind instantly when I was wondering whom to cast for the role. At that time, she had an overtly glamorous image. Jism (2003) had released two years before. In Corporate, I was going to make her fully clothed from head to toe, that too in a suit-boot! Hence, many were apprehensive, but I was adamant about casting her. To be honest, I had not seen Jism; I still haven’t seen it. The only film of her that I had seen until then was Ajnabee (2001). I liked her in that film.

A lot of people remarked that my films are performance-heavy and wondered if she could pull it off. I was confident that I’d extract a fine performance from her. To date, Corporate is a landmark film in Bipasha Basu’s career. Now, it’s the era of OTT. At that time, she told me that she used to hand over the DVDs of Corporate to filmmakers who wanted to see her performance. It was like a showreel for her. So, I feel very happy for her.

How was the feedback to the film post-release?

Corporate was a big multiplex hit and was quite appreciated. There were organizations that alleged that I had painted everyone in the corporate world with the same brush. They were of the opinion that every character in the film was immoral. Hence, they feared that people would be discouraged from taking up an MBA after watching the film!

However, people from the corporate field appreciated the film a lot. Some of the biggest businessmen of the country sent me bouquets and shared their positive feedback. I don’t want to name them. They took the pains of finding my number and told me, ‘You got the nuances and jargon right’. One business personality remarked, ‘I felt as if you have put a camera in my office and shot the film. It is so real’! The stock market people were amazed by the research and nitty-gritties. Those were the biggest compliments I got.

In some offices, a half-day was declared and employees were encouraged to watch Corporate. Groups of 30, 40 and even 50 people used to watch the film. We can say that corporate booking, in a good way, started in 2006 with the movie Corporate (laughs)!

So, yes, the response was great. I used to get SMSes non-stop on my Nokia phone. Bipasha Basu was flooded with bouquets and positive feedback. Sahara and Percept threw a success party at Taj Lands End. They even gifted me a Pajero car. I was very overwhelmed.

Do you ever plan to make Corporate 2?

A lot of people have been asking me this since the release of Corporate, and even today, I continue to receive that feedback. The corporate world has completely changed since then, and I also believe that Corporate has immense potential for a sequel. So, never say never. However, if I do make it, it will be set in a different context, offer a different perspective and explore an entirely different corporate world.

Corporate is a case study in IIM Ahmedabad…

(Smiles) Indeed. I had the fortune of addressing the MBA students there. It was great to interact with them and they noticed something which I myself never detected in my own film! I asked the students about their takeaway. They unanimously told me, ‘Corporate world mein logon ko dimaag se kaam karna chahiye, dil se nahin’! I was amazed. I asked them the reason. They reasoned that Bipasha’s character made a big sacrifice because she was in love. Ultimately, her emotional decision led her to jail. Hence, they concluded that one needs to be very practical in this field.

It reminded me of what a lot of bar girls told me after watching Chandni Bar (2001). They noted, ‘Your film teaches us how important it is to be financially strong in life. Life mein kabhi bhi kuch bhi ho sakta hai aur bure din bolke nahin aate’.

The film seems to be inspired by the Coca-Cola and Pepsi rivalry. The pesticide angle also seems to be taken from real life…

Yes, a lot of people drew parallels. So many people told me that they had stopped consuming soft drinks after watching Corporate! I was flooded with such interesting feedback. Many who protested against the film before release invited me to their events after watching the film. I never kept any grudges and accepted such invitations.

In short, it’s been a great journey for me and even after 20 years, people connect with the film.

Also Read: Madhur Bhandarkar THUNDERS: “Producers complain that actors ask for 12-13 vanity vans. But if a prominent actor signs his film, same producer would have no qualms in arranging for 14 vans!”

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