- Well-known filmmakers Vidhu Vinod Chopra and Sudhir Mishra, worked as assistants for him on his cult classic Jaane Bhi Do Yaaro (1983).
- Received the Indira Gandhi Award for Best Film by a Director in 1984 for the same film. A digitally restored version of the film was re-released in 2012, celebrating its 30th anniversary.
- Started a television production company called Iskra in collaboration with Saeed Akhtar Mirza.
- Made a comeback in the film industry with Kabhi Haan Kabhi Naa (1994) after a 7-year hiatus.
- Was the first ever filmmaker to win the 1994 Filmfare Critics Award for Best Movie.