The part two takes the story forward from where it was left in the original, which revolved around three characters entangled in a relationship that culminates in tragedy killing Randeep Hooda's character, confining Jimmy Shergill's to a wheelchair and letting Mahie Gill's character become bindaas and powerful.
The sequel stars actors Jimmy Shergill and Mahie Gill, who will all be seen reprising their roles from the previous film. They will be joined by Irrfan Khan and Soha Ali Khan in the cast.
Said to be made on a budget of Rs.7 crore, "Saheb Biwi..." is co-produced by Tigmanshu Dhulia and Rahul Mittra.
Dhulia candidly admits that his offering has the right amount of sensuality, which he feels is important to the story.
"There is sensuality, but in little measure. I feel that it is effective only like that. It (film) should have the right amount of sex and passion," he said.
Actress Mugdha Godse will be seen in an item number for the first time in Dhulia's directorial venture.
Releasing with "Saheb Biwi..." is "Saare Jahaan Se Mehnga", which is Anshul Sharma's directorial debut.
Described as satire laced with humour, it targets inflation through a middle-class family living in a small city in north India.
The family, crushed under the burden of 'mehngai', tries to deal with it through an ingenious idea, not aware of the problems they would get entangled with as a result of the idea.
The family's battle with the issues culminates into a climax that brings tears to your eyes.