Manjrekar had announced his plans to make the film after Sangeeta and her politician husband, Sachin Ahir, had mooted the idea some time ago but was waiting for their confirmation.
According to Sangeeta, "Big Bazaar" discusses the sorry plight of the mill workers, who disappeared from the scene when factories were closed down abruptly and the land sold for commercial purposes.
"No one has bothered to find out what happened to those families and how they are living. 'Big Bazaar' tells the tale of these families," Sangeeta says.
"I was impressed with the story when Manjrekar narrated it to me. The fact that my husband, Sachin, is the president of the Rashtriya Mill Mazdoor Sangh helped me to understand the subject better."
She is planning to rope in two big stars for the film. "One of them ranks in the number one position today and we have already spoken to him," she says.
Meanwhile, she is readying "Life Ho To Aisi" for a November release.