The bilingual film is directed by the acclaimed Bangladeshi filmmaker Farooki and produced by Kolkata's Eskay Movies and Bangladesh's Jazz Multimedia.
Irrfan's production company IK will be co-producing the film, which is a "family story".
Farooki said in a statement: "I got a good set of casts and good team. Getting Irrfan as a co-producer was a big boost for us. I believe if everything goes well, we will be able to offer an engaging film."
Apart from Irrfan, the film also features Bangladeshi actress Nusrat Imroz Tisha.
The film will go on the floors in March-end and will be shot in one schedule of 35 days in Bangladesh and North Bengal.