His last film as director was Kartoos (1999) which did average business at the box office. Thereafter, Bhatt retired a director and took to screenwriting, churning out stories and screenplays for over twenty films, many of which were box-office successes, like Dushman, Raaz, Murder (2004), Gangster (2006), Woh Lamhe (2006), based on the life of actress Parveen Babi, along with many more. His banner vishesh films still continues operating today as one of Indian Cinemas leading production banners. Bhatt entered into the world of theatre with his protege Imran Zahid as of now he has produced three plays. The Last Salute, based on Muntadhar al-Zaidi's book of the same title, a journalist investigating atrocities Trial of Errors, that opened on 29 March 2013 in Delhi. stage adaptation of Bhatt of his movie, Arth (film). Bhatt also produced The Last Salute, a play directed by Arvind Gaur, based on Muntadhar al-Zaidi's book, starring Imran Zahid.