Based on Salman Rushdie's best-selling book, the film stars a host of actors like Satya Bhabha, Shriya Saran, Anupam Kher, Shabana Azmi, Seema Biswas, Shahana Goswami, Samrat Chakrabarti, Rahul Bose and Darsheel Safary.
We caught a first look of the film, where co-stars Satya Bhabha and Shriya Saran look fantastic together.
Mehta and Rushdie discussed the film at length at the festival, and even shared how the film came about.
The film will release in October 2012.