Yes, Bollywood is fine. The end should be "Khan are good friends".
It should be surname, not "sir name".
Student or Learner
Bollywood actor Salman khan has time and again proved that his colleagues, Shah Rukh and Aamir khan is good friends.
Can I use "the" before bollywood actor? If not, why?
Should first letter of sir name be in capital letter as in Khan?
Why can't we use the before "Bollywood". Here we are writing about specific Bollywood actor we should use "the".
'The' before 'Bollywood actor' is entirely optional. Both versions are correct and mean the same.