http://www.blu-ray.com/news/?id=17215Saw this news being discussed at the Blu-ray forum. Also, there is a piece of description that says "restoration by Ultra Media & Entertainment Pvt. Ltd".
I'm not sure whether we should be happy about the news or not because if it is Ultra (i.e., Ultra Home Entertainment India), it is kinda hard to expect a well-restored print judging by the utterly crappy DVDs they've dished out. However, fingers are crossed. Hopefully the company, or any other renowned company gives us a Blu-ray of the movie.