The 3D film is being directed by Vikram Bhatt.
It will be the second stereoscopic 3D film after Bhatt's "Haunted 3D" and will feature actors Jimmy Shergill, Rajneesh Duggal, Divya Dutta and Ruslaan Mumtaz, apart from Karisma.
The 37-year-old actress, a mother of two, is set to return to the big screen after a five-year hiatus. She will be seen in a glamorous avatar as she will play a supermodel in the film, expected to release around May or June 2012.