Dutt, 56, after completing his jail term in 1993 Mumbai serial blasts case, was to begin shooting for Siddharth Anand's action film this summer.
The date was further shifted to August sparking speculation that it was probably shelved.
However, one of the producers denied the report.
"The film is not shelved. Siddharth Anand is still working on the script. We are yet to get a suitable actress for the film. We are looking for a young face. It might go on floors by the end of this year or early next year," Girish Johar of Zee Studios told PTI.