Depp with his Inifinitum Nihil partner Christi Dembrowski and GK Films' Graham King will kickstart the project again after several failed attempts earlier.
According to Deadline, Depp himself jump started the project by courting Edgerton for the lead role which he once intended to play.
The studio bought the movie rights for 'Shantaram' for USD 2 million in 2004 but the movie adaptation was derailed by derailed by the writer's strike in Hollywood.
Indian-American filmmaker Mira Nair was attached to direct the project and she has often expressed her desire to bring it back but the studio is yet to find a director.
Edgerton was last seen playing Tom Buchanan in Baz Luhrmann's 'The Great Gatsby'. He also starred in 'Zero Dark Thirty'.
