In spite of the poor box-office performance of his last movie "Janaa - Let's Fall in Love" in 2006, Khanna has signed as many as eight movies, of which "Wafaa" will be the first to be released.
The movie has been directed by Rakesh Sawant - actress Rakhi Sawant's brother - who last made "Hot Money", a B-grade box-office dud.
Khanna's role in "Wafaa" is that of an elderly man who is married to a young girl, played by 20-year-old newcomer Laila Khan. How the odd couple tries to save their marriage is what the movie is about.
"At my age, this is the fit role for me. I am taking it as a challenge for myself to prove that the actor in me is still alive and kicking, whatever may be the film's fate at the box office, " Khanna, who is in his 60s, told.
He served as a Congress MP during 1991-1996.
In "Janaa...", he shared screen space with his colleague from the past, Zeenat Aman. Directed by Shahrukh Mirza, it turned out to be a damp squib and neither Khanna nor Aman could benefit from it.
While Aman seems to be on a sabbatical from movies, appearing only in public functions occasionally, Khanna has chosen to pick up the gauntlet once again.