Madhuri Dixit, who arrived in Mumbai early last week, met director Vishal Bharadwaj over the weekend to discuss his upcoming project Dedh Ishqiya.
Vishal is reportedly keen to sign Madhuri for a lead role in the film.
Arshad Warsi first dropped a hint that the 44-year-old Madhuri maybe part of the sequel, after news broke that Vidya Balan will not feature in it.
"I believe Maduri Dixit may do Ishqiya, if she does my dream to act with her will be fulfilled ... I am such a huge fan of hers" Warsi tweeted on June 18.
Vishal and Madhuri are expected to meed again during the week over the project, a source tells Sawfnews.com exclusively.
Following her arrival in Mumbai, Madhuri attended a memorial service for late MF Hussain at Jehangir Art Gallery on July 6.
Madhuri, who was Hussain's first muse and remained so for a long long time, paid tribute to the artist by recalling her experience with him.
On July 10, Madhuri attending a wedding of celebrity Doctors Abhishek and Shefali, where she posed with veteran actors Dilip Kumar and wife Saira Banu.