Emraan, 34, is re-teaming with his 'Jannat' director Kunal Deshmukh in the film, which also stars Paresh Rawal in a key role.
A leading lady is yet to be finalised for the flick.
"We are very excited with our next production which is now called 'Shatir'. This will be Emraan's second film with us and we are looking forward to work with him on something he has not played before and he is also very excited about playing a character of a 'shatir' conman," said Manish Hariprasad, Creative Director, Disney-UTV.
Shetty had earlier worked with Ashtavinayak for his 'Golmaal' series while his upcoming Shah Rukh Khan starrer 'Chennai Express' is being produced by Disney-UTV.
"For the Kunal Deshmukh film starring Emraan Hashmi, UTV wanted the title 'Shaatir'. But the same title was registered by Ashtavinayak. We mentioned it to Rohit Shetty. Rohit was extremely helpful, he immediately spoke to Ashtavinayak and helped us get the title from them," Hariprasad added.
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