Produced by PVR Pictures, the movie is the official Hindi adaptation of a political thriller by Greek novelist Vassilis Vassilikos, who wrote about the real-life assassination of a dynamic politician.
The movie has been adapted by Dibakar and his team to the Indian context.
Dibakar, known for his films like "Khosla Ka Ghosla" and "Oye Lucky! Lucky Oye", said the film's two leading actors would be seen donning new reel life avatars, something they haven't done before.
"I'm looking forward to breaking some presumptions with this film. I love the way some people stereotype the dark, kissy, negative bond side of Emraan in his films," Dibakar said in a statement here Wednesday.
"Well this film is going to see him go right into the heat and dust of a hellish Indian small town and its deadly politics. No leather jackets, suave bars and foreign locales."
"Abhay was never seen like this before - in a negative, cold, almost vicious character. Imagine Abhay being the establishment instead of fighting it. He looks at you through his glasses, wearing his stiff shirt and you wonder what's on his mind," he added.
PVR President Kamal Gianchandani is also excited about the project. He said: "To see the two lead characters being brought to life by actors of such contrasting, but equally versatile talent is great."
"Casting Emraan and Abhay in the film was first and foremost a creative decision, but as a producer I am thrilled that it will help to bring to this gripping film audiences from across the spectrum," he added.