Co-produced by Essel Vision, Cape of Good Films and Kriarj Entertainment, the film has been written by Vipul Rawal and will be directed by debutant Tinu Suresh Desai.
Slated to release during the Independence Day weekend next year, "Rustom" will be inspired by real life incidents.
"The film is set in the late 1950s and is a pure work of fiction. 'Rustom' is inspired from certain real life incidents that happened in the past and will be shot in India as well as in Britain," Shital Bhatia of Friday Filmworks said in a statement.
"Akshay Kumar's character in 'Rustom' demands a completely new avatar. Ameira Punvani who is the costume designer has already begun work on Akshay's look. Though we can't reveal much, the role is something that he has never played before," Bhatia added.
The music of the film has been composed by Ankit Tiwari with Santosh Thundiyil as the cinematographer.
