In 2012, Karan remade Amitabh Bachchan-starrer Hindi film "Agneepath", but he is attempting a Hindi remake of a southern film for the first time with director N. Linguswamy's film.
"I was very impressed with 'Vettai' when I watched it, but I didn't know UTV was involved in it. I've now partnered with them for the Hindi remake. We will soon announce the name of a young actor, who will fill the slot of a true-blue action star, " Karan said in a statement.
The original film featured Arya, R. Madhavan, Sameera Reddy and Amala Paul in the lead roles.
Karan, who recently produced hits like "Student of the Year" and "Yeh Jawaani Hai Deewani", will finalise the star cast and director soon.
"The film will have a lot of heroism, humour and great scope for music. It's going to be a commercial potboiler and one of the few films with a pan-India appeal, " he said.
"We are in discussions with a couple of directors and actors. Things should be finalised sooner rather than later. There were many rumours in the past about the film and the star cast. I don't know about the history of the film but now I am part of it, " he added.