Billed as a new age thriller comedy, the film will be directed by Aakash Bhatia.
The 1998 German original, starring Franka Potente and Moritz Bleibtreu, follows a woman who needs to arrange 100,000 Deutsche Mark in 20 minutes to save her boyfriend.
Besides Pannu, "Looop Lapeta" will also feature Tahir Raj Bhasin, known for movies like "Mardaani", "Chhichhore" and "Manto".
The film is a Sony Pictures Films India and Ellipsis Entertainment production.
Pannu has a slate of interesting films in her kitty including, “Shabhash Mithu”, a biopic on cricketer Mithali Raj, murder-mystery “Haseen Dillruba” and sports-drama “Rashmi Rocket”.