"I won't be able to give you much detail. Yes, Ajay is making this film with Kajol. He is producing as well as directing it," said Kumar Mangat, Ajay's business manager.
Scripted by Ajay, the film is a love story and will go on the floors soon.
The last time they were seen together was in 2000 in a children's film "Raju Chacha" - it was Kajol's first film after marriage. Loaded with special effects, "Raju Chacha" was one of the most expensive films of 2000 but sank without a trace.
After the film's failure, Ajay never made an attempt at producing films and concentrated on his acting career and gave powerful performances in "Company", "Bhoot", "GangaaJal", "Khakee", "Masti", "Yuva", "Apaharan" and "Omkara".
Meanwhile, wife Kajol was busy with home and daughter Nysa.
Before "Raju Chacha", the couple were seen in hits like "Pyaar To Hona Hi Tha" and "Ishq". They also paired up for "Dil Kya Kare", "Gundaraj" and "Hulchul".
These days they have invaded the small screen with Whirlpool home appliance ads and Tata Indicom commercials.