There were reports that the "Aashiqui 2" star has been signed to play the lead in the film directed by Siddharth Anand.
Starring Dutt, the action-thriller is said to revolve around the relationship between an older man and a younger girl.
When asked if she is doing the film opposite Dutt, Shraddha told PTI, "No. It's not true. I mean I would love to work with him in the future but I've not been offered that."
The project is likely to be the first for the 56-year-old actor after his jail term. The film might begin shooting in summer.
Meanwhile, Shraddha is geared up for her next film, "Baaghi-Rebel in Love". Directed by Sabbir Khan, the action-drama also stars Tiger Shroff and is scheduled to release on April 29.
