The Bhargav Saikia-directed movie is an official adaptation of Ruskin Bond's short story of the same name.
Alter, who passed away on September 29 from stage-four skin cancer at the age of 67, will be seen essaying the role of his real-life friend, Bond in the film.
Shot in Mussoorie and Nainital, the movie also features Shernaz Patel as Miss Bellows, a traditional English witch.
The visual effects (VFX) for the film have been done by Phantom-FX, whose previous credits include "Baahubali 2: The Conclusion".
The film had its world premiere at the recently-concluded FilmQuest Festival in Utah, where it was nominated for the Best Fantasy Film and in the Best Production Design categories.
It will also be screened at the 20th International Children's Film Festival India 2017 on November 11 in Hyderabad.
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