According to sources the decision was supposed to be taken this month, but will now be taken once the clean chit is given to Amitabh Bachchan.
Bachchan, and actor Priyanka Chopra were chosen as the new face of government's ‘Incredible India’ campaign after Aamir Khan ceased to be its mascot.
The 73-year-old actor's name figured in the list of 500 Indians in Panama Paper leaks for allegedly having links with offshore entities.
The Panama Papers are a leaked set of 11.5 million confidential documents that provide detailed information about more than 214,000 offshore companies listed by the Panamanian corporate service provider Mossack Fonseca, including the identities of shareholders and directors of the companies.
Earlier, Bachchan had issued a statement saying that his name was "misused".
He had said: "I have paid all my taxes including on monies spent by me overseas. Monies that I have remitted overseas have been in compliance with law... after paying Indian taxes. In any event the news report in Indian Express does not even suggest any illegality on my part."