Ali had earlier directed the critically acclaimed "Socha Na Tha", which was Abhay Deol's launch vehicle.
To be produced by Shree Ashtavinayak, the film's shooting is set to begin from March 20 in places like Mumbai, Chandigarh, Shimla and Kullu-Manali.
Manish Malhotra, one of the most sought after designers in the Hindi film industry, will team up with Sabina Khan to design costumes for the duo.
The rest of the cast will be announced shortly.