The earlier films in the franchise - "Munna Bhai M.B.B.S." and "Lage Raho Munnabhai" - were directed by Rajkumar Hirani under the Vidhu Vinod Chopra Films Pvt Ltd. banner.
Now, Kapoor, who has earlier helmed "Phas Gaye Re Obama" and also the upcoming "Jolly L.L.B", has taken over, said a statement.
Chopra, Hirani and co-writer Abhijat Joshi jointly feel that Kapoor is perfect to take the franchise to another level. They are especially confident after watching the special screening of "Jolly L.L.B.", a satire on the country's judiciary system.
"After seeing Subhash's work and discussing his thoughts and ideas, Raju, Abhijat and I collectively felt that we have, after a long search, found an individual with the right sensibility and approach to work with us in taking forward the 'Munna Bhai' franchise," Chopra said in a statement.
"I am pleased to welcome Subhash Kapoor into the Vinod Chopra Films family as the director of the next 'Munna Bhai' film," he added.