The 70-year-old will play the lead in the thriller, which is set to go on the floors early next year.
"I am delighted to be working with Anurag, a director, who has through his rugged belief in his kind of cinema compelled us to fall in line with him. I have a general concept of the story and anxiously wait for him to begin shooting," Bachchan said.
The duo recently worked together on short film "Bombay Talkies".
"I'm thrilled. Like everyone, I have also been a fan of Mr Bachchan from my growing up years. Though I wanted to make a film with him for the longest time, I wanted to be sure that the role is something he has never done before. While working on the short film with him, I got this idea, which we discussed and he agreed," Kashyap said in a statement
The movie will be produced by Phantom Films.