The film, which also stars Aditi Rao Hyadri in a prominent role, is being directed by Bejoy Nambiar, and is written and produced by Vidhu Vinod Chopra.
Farhan took to Twitter to announce the change in the film's title. "The Vidhu Vinod Chopra/ Bejoy Nambiar film is now officially titled Wazir," he wrote on his Twitter page.
Bachchan, 72, reportedly plays a paralysed chess grandmaster in the movie and Farhan, 40, plays an ATS officer in the film.