Majidi previously directed the 2005 Iranian box office smash The Willow Tree and his drama Children Of Heaven was nominated for a foreign language Oscar in 1999. Details of the upcoming film were unavailable.
'I had always wanted to make a film in the East, especially in India given its many cultural similarities with Iran,' Majidi said.
'[Majidi's] films, which are a reflection of life, transcend all language and geographical boundaries and are truly world-movies,' SpoyBoy's creative and business head Vikas Bahl said.
'These associations also help us bring diverse projects within the same studio through different brands. We look forward to collaborating with world's best by providing these creative minds a world platform from which to showcase their immense talent'.
UTV Motion Pictures launched SpotBoy earlier this year. In August the division announced a deal with Virgin Comics to make four superhero properties.
SpotBoy has also struck single film deals with Shyam Benegal, Anurag Kashyap and Raj Kumar Gupta.