For past few days news was abuzz about the alleged association of filmmaker Karan Johar’s Dharma Productions with banner Phantom Production.

It was said that the two big banners were planning to bring up a project that will have ‘Student Of The Year’ fame Siddharth Malhotra and ‘Ishqzaade’ talent Parineeti Chopra. Of late the news has been confirmed and the project is expected to roll out soon.

For the uninitiated, Phantom Production is the brain child of four filmmakers namely Anurag Kashyap, Vikramaditya Motwane, Vikas Bahl and Madhu Mantena.

The production house’s first production venture is Ranveer Singh-Sonakshi Sinha starrer ‘Lootera’.

Coming to the Siddharth-Parineeti starrer.... KJo confirmed the development on his micro-blogging site thus, "Happy to announce the new Dharma-Phantom co-production with Sidharth Malhotra and Parineeti Chopra!"

the filmmaker further wrote that the film’s title will be announced soon and the project will be directed by ad filmmaker Vinil Mathew. As a matter of fact, Mathew is the one who made the popular Deepika Padukone and Karan Johar commercial.

On the other hand, an excited Siddharth tweeted, "Here it is guys, my second film! ...really excited to work with Parineeti Chopra, Phantom and Vinil."