from imdb.com:
"20th Century Fox Goes Bollywood
Twentieth Century Fox has signed a joint-venture deal with Bollywood's Applause Entertainment to co-produce and distribute Indian-language versions of 20th's releases, the Times of India reported today (Thursday). The first production will reportedly be a remake of the thriller Phone Booth. The newspaper quoted sources as saying that the U.S. studio, owned by Rupert Murdoch's News Corp, would have exclusive distribution rights of the movie in India and abroad."

hm, afaik bollywood movies are mostly musicals with lots of dance sequences. i wonder if phone booth will be a standard remake or if the outcome will be something more in the style of the indian movie tradition. if they do it bollywood style i will definetly check this out