The original number was part of the movie "Amar Akbar Anthony", and in the track's new version, Imran grooves with Sonakshi Sinha.
Recalling his recent meeting with Rishi Kapoor, Imran said: "What happened was that I was leaving after dubbing for this film and Rishiji was sitting there as he had the next dubbing shift. So I met him and I was complimenting him on his performance in 'D-Day'.
"Suddenly he said, 'You have done my song, 'Tayyab Ali'.' I asked him hesitantly, 'Did you like it?' and he was like, 'Why are you afraid, you have done it so well. Well done, don't be scared!'"
Imran says his nervousness about the song is obvious.
"I was very thrilled because it is such an iconic song and when you are trying to recreate a song like that, obviously you will be nervous. You think that - 'Those who like the original song... will they like it?," Imran said.
"(But) The biggest stamp of approval came from Rishiji himself. I was very honoured," added Imran.
Imran plays a gangster in "Once Upon Ay Time In Mumbai Dobaara!", directed by Milan Luthria. Also starring Akshay Kumar, the movie hits theatres Aug 15.