Vasu has bought the remake rights of the 1993 blockbuster and his son Shakti will play the lead role, a press release said here Wednesday. The rest of the cast is yet to be finalised.
The film will go on floors after the completion of Rajnikanth starrer 'Kuselan'. Industry sources said Vasu hopes that some of Rajnikanth's luck would rub off on him after the release of 'Kuselan'.
The Hindi original directed by Abbas-Mastan had Shah Rukh playing a negative role and also starred Kajol, Shilpa Shetty and Dalip Tahil.
Believed to have been inspired by the 1991 Hollywood flick 'A Kiss Before Dying', 'Baazigar' established Shah Rukh as a star in Bollywood.
Shakti was launched by Vasu in 2007 amid much fanfare with a collaboration with ace Tamil director K.S. Ravi Kumar in 'Thottaal Poo Malarum'. But the movie didn't do well due to an insipid story and listless performances.
The next Shakti-starrer, an offbeat venture 'Mahesh, Saranya Mattrum Palar', is due for release early June.