Patiala House is apparently based on cricket and Wasim will play coach to Akki's cricket team. It will be shot in London and is expected to release next year. The music will be scored by Shankar-Ehsaan-Loy and lyrics will be penned by Sameer.
The film also stars Rishi Kapoor, Dimpla Kapadia and Rab Ne Bana Di Jodi heroine Anushka Sharma.
Nikhil Advani and Akshay had last come together in the disastrous Chandni Chowk to China. He had earlier directed the hit Kal Ho Naa Ho and the dud Salaam-E-Ishq.
Wasim had had a taste of Bollywood when he judged the dance show Ek Khiladi Ek Haseena with Sushmita Sen.