This will be his second film with Hrithik after "Agneepath" remake, which was Malhotra's directorial debut and the action revenge drama did so well at the box office that it entered the Rs.100 crore club.
There were reports that the director was considering Kareena Kapoor or Anushak Sharma for the part.
But denying the reports, Malhotra said: "We have not finalised Kareena or Anushka. We are still looking for the leading lady. We shall soon make an announcement."
To be produced by Karan Johar, "Shuddhi" will go on the floors by November.
"I don't know from where rumours are coming. So far only Hrithik Roshan has been confirmed and the leading lady is not yet finalised. Probably by June mid we will finalise the leading lady for the film," Malhotra told.