Lee and Graphic India, a character entertainment company, are looking at making grown-up version of Chakra tackling his arch-enemy, Boss Yama, against the spectacular backdrop of Mumbai.
Lee is the co-creator of superheroes like Spider-Man, Iron Man, Hulk and X-Men.
He and his producing partners, Gill Champion from POW! Entertainment and Sharad Devarajan, CEO of Graphic India, have been meeting with leading Bollywood directors, producers and writers to adapt the superhero saga that they launched last year for the big screen.
"We've set up some great meetings already with some of the most amazingly talented actors and directors in Indian cinema and I have no doubt that these individuals will help make the Chakra film a massive hit in India and around the globe," he added.
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"We could not be more excited about the prospect of bringing a real-life Chakra film to fans everywhere on the big screen!," said Gill Champion, President and CEO of POW! Entertainment.
"The opportunity to bring Stan's unique style of superhero storytelling to Indian cinema is something any creator would love to collaborate with him on. We have been overwhelmed by the interest and fan base Stan has in India, especially amongst the creative community of Bollywood," said Graphic's Co-Founder & CEO, Sharad Devarajan.