He was roped in to play a writer in the psychological thriller.
"Sad news to share. 'Rum Pum Poshsh' has been stalled due to financial complications," Prateik posted on his Twitter page.
However, he promises some "brilliant" entertainment in the coming years.
"I'm not going anywhere. More brilliant films coming your way... real soon. Keep that faith," added the son of actor-politician Raj Babbar and late actress Smita Patil.
Meanwhile, Prateik has been busy shooting for a new film at Filmistan Studio here. He even caught up with Salman Khan.
"Spent the day chatting with (bhai) Salman Khan yesterday (Tuesday) till late at night, in between shots. We were both filming at Filmistan Studio," he added.
On the big screen, Prateik was last seen in "Issaq".