Dharma Productions will co-produce the film with Phantom Production and Vinil Matthew will direct 'Hasee Toh Phasee'.
This will be Siddharth's second film with Dharma Productions after his debut movie 'Student Of The Year'.
Parineeti made her Bollywood debut with 'Ladies VS Ricky Bahl' and she was also seen in Yash Raj Films' 'Ishaqzaade'.
J. Jayalalithaa passes away: Her life in pictures
Photos: Shah Rukh Khan, Deepika Padukone, Alia Bhatt at an awards show
Photos: Big B, Iulia Vantur at Himesh Reshammiya's album launch
Photos: Aamir Khan with 'Dangal' actresses at fashion show
Spotted: Twinkle Khanna, Shriya Saran at an event in Mumbai