Last December, Gupta announced that his production banner, White Feather Films, had acquired the rights of the graphic novel "Rakshak - A Hero Among Us".
The director took to Twitter to share photos of his writing desk with a draft of "Rakshak" on his laptop.
"And it begins... for the record on this beautiful morning," Gupta, who will also direct the film, captioned the pictures.
The film's screenplay is written by Gupta, Chetan Naidu and Shamik Dasgupta.
Last month, the director announced that he had finished writing the first draft of the third installment of the "Shootout" franchise.
The first part, "Shootout at Lokhandwala" was helmed by Apoorva Lakhia and starred Sanjay Dutt, Vivek Oberoi, Suniel Shetty among others. It was released in 2007.
The second installment, 2013's "Shootout at Wadala" was directed by Gupta and featured an ensemble of John Abraham, Anil Kapoor, Kangana Ranaut, among others.
Gupta is currently awaiting the release of his next, "Mumbai Saga". The star cast of the gangster-drama includes Abraham, Emraan Hashmi, Jackie Shroff and Shetty. JUR RDS RDS