Tendulkar had recently retired from the one-day internationals and is thus available for Mumbai's remaining Ranji campaign, but Zaheer is out with a calf injury sustained during the team's last league game against Gujarat at the D Y Patil Stadium in Navi Mumbai.
"Zaheer has sustained a calf injury and is currently in rehab mode at the National Cricket Academy in Bangalore," said Mumbai Cricket Association's joint secretary and selection meeting convenor Nitin Dalal.
The team, selected here today for the knock out game scheduled at the Wankhede Stadium, will be led by Ajit Agarkar, who is fit after missing the tie against Gujarat due to an injury.
Mumbai will also miss the services of key batsmen Ajinkya Rahane and Rohit Sharma who are members of the Indian ODI squad now playing against Pakistan.
The Mumbai squad: Ajit Agarkar (Captain), Sachin Tendulkar, Wasim Jaffer, Suryakumar Yadav, Dhaval Kulkarni, Kaustubh Pawar, Abhishek Nayar, Hiken Shah, Aditya Tare, Ankit Chavan, Nikhil Patil (Jr.), Javed Khan, Shoaib Shaikh, Shardul Thakur and Vishal Dabholkar.
Coach: Sulakshan Kulkarni.