The film features Priya Varrier in the title role, while Arbaaz will be seen in a guest appearance portraying the part of a Bollywood actor.
"Sridevi Bungalow" was mired into controversy as the plot line of the film seemed to make a reference to Sridevi's demise. The last shot of the trailer ends with Priya's character dying in a bathtub.
Sridevi, aged 53, died of accidental drowning in her hotel room's bathtub in Dubai in February 2018. The late actor's husband-producer Boney Kapoor had issued a legal notice to the makers of the film earlier this year.
Asked about the film's run-in with controversy, Arbaaz said, "When they offered me the film, I'd asked them if it has anything to do with the unfortunate incident with Sridevi ji and they denied it completely.
Also READ: Boney Kapoor SLAPS legal notice on Priya Varrier's film 'Sridevi Bungalow' which is speculated to be based on late Sridevi's life!
"They said the story has no relevance with her and that they had registered the story and the title of the film long back."
The actor-filmmaker said the makers assured him there is no similarity between the late veteran actor and the film.
"They told me they have addressed the issue earlier with the media and that I should be rest assured that just because the title is similar doesn't mean the film is co-related to the incident that has happened. I got some assurance," he said.
Priya echoed Arbaaz's sentiments.
"It is more of director and producer's concern because I am portraying the character that is given to me. It was not our agenda to intentionally hurt anyone's feelings," she added.
The film, directed by Prasanth Mampully, is the story of a successful actor named Sridevi who leads a lonely life.