The film, which won him a Filmfare Award for best debut, was backed by Salman Khan and Subhash Ghai. It didn't do well and Pancholi's career has been moving in fits and starts since then.
He has since worked in the little-known "Satellite Shankar" and "Time to Dance".
Pancholi, who has also worked as assistant director on films such as Sanjay Leela Bhansali's "Guzaarish" and Salman Khan-starrer "Ek Tha Tiger", hit the headlines when he was accused of abetting Jiah Khan's suicide.
He was charged on the basis of a six-page letter purportedly written by Khan, who was found hanging in her Juhu home on June 3, 2013.
In an interview to PTI in 2015, Pancholi had said, "My name will always be associated with her and I have no guilt for that. I am happy that something at least stays with me. I am sad that she ended her life. But at least her name is with me and I have no problems with it."
On Friday, Pancholi was there with his mother when the judge read out the verdict. Special CBI judge A S Sayyad called him to the witness box and asked his name. When the actor said Sooraj, the judge asked him to state his full name. The actor then replied, "Sooraj Aditya Pancholi."
The judge then said, "Due to paucity of evidence, this court holds you (Sooraj) not guilty... acquitted."
Sooraj nodded with his head down and stepped out of the witness box. He didn't speak to reporters.
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