According to Mumbai Mirror, the actress has cited irreconcilable differences as grounds for the separation.
A source for the tabloid commented: "The time has come for Karisma to emerge from a bad marriage. She is terribly distraught and very stressed. She has virtually become a loner."
Kapoor's seven-year marriage has been the subject of ongoing media speculation, after earlier periods of separation between the couple.
The source said of the expected divorce announcement: "If she has not yet filed it yet, it would be any moment now."
The Raja Hindustani star was last scene on screen during a song sequence in Om Shanti Om.
Johar turns down role of 'sex maniac'
According to Mid Day, the Omkara filmmaker had wanted Johar to feature in a controversial, out-of-character role in Saat Khoon Maaf.
"From what angle do I look like a wife-beater? And how could I enact a scene making love to Priyanka Chopra! And that too as a sex maniac! There is no way I could do this," said the actor-director.
Bhardwaj is said to have later finalised Slumdog Millionaire star Irrfan Khan for the role.
Johar has appeared in front of the camera in projects such as Dilwale Dulhania Le Jayenge and Home Delivery.
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