There were reports that Saif, who was in the first instalment of "Love Aaj Kal", will be seen playing the role of Kartik's father in the sequel.
Saif said: "I'd honestly want to play every role provided it's interesting enough and if the time permitted it. Though Imtiaz was very kind to offer me a part in the sequel of 'Love Aaj Kal', I haven't signed the film contrary to the rumours."
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"Love Aaj Kal", a romantic-comedy film, released in 2009. It also featured Deepika Padukone and Rishi Kapoor in key roles.
The sequel is scheduled to hit the screens next year.
Saif has several projects line up. He will be seen in "Sacred Games 2", "Taanaji: The Unsung Warrior", "Bhooth Police", "Hunter" and "Jawaani Jaaneman".