As a reply to a Twitter user, Ranjith said that the news about Deepika being cast in his next project is untrue.
Earlier, it was rumoured that Radhika Apte was being considered for the same role.
Ranjith and Rajinikanth reunite after last year's Tamil blockbuster "Kabali".
While the genre of the film remains a mystery, what is known is that Dhanush will be bankrolling the project. It is believed that the film will go on the floors from later this year.