Kajol who was last seen as the cancer stricken mother in We Are Family, Siddharth Malhotra's 2010 remake of the Hollywood tearjerker Stepmom, was gearing up for a comeback in Ram Madhvani's next. 

The film, an adaptation of the Dutch TV series Penoza, was to be co-produced by her husband Ajay Devgn (Mirror, August 4). But now we have learnt that she has pulled out of the project, along with Devgn.

The actress has been on a four-year sabbatical following the birth of her son Yug. A source close to the development told Mirror, “The modalities could not be worked out. The parting was amicable.“

Penoza tells the story of Carmen who steps into the world of crime to protect her three children and track down their father's killer, after the murder of her mafiosi husband.

Last week, Madhvani whose directorial debut, the 2002 release Let's Talk, was critically acclaimed, took the role to Kareena Kapoor who liked the basic premise and is now reading the script.

Prior to this, Kajol was offered Rensil D'Silva's 27-episode fiction show (Mirror, December 28 , 2013), which revolved around a single mother living in a joint family in Delhi. But the actress demanded a high price and the deal fell through.

The buzz now is, she could return in Rohit Shetty's next, with Shah Rukh Khan. Will it be third time lucky for Kajol?

Despite repeated calls and messages, Madhvani chose not to respond.