The telugu remake of Three Idiots will be titled as '3 Rascals' according to close sources. The flick will have ace kollywood stars Srikanth, Jiva and Vijay doning lead roles. Illeana will don the female lead. The flick will be the first remake venture of director Shankar in Telugu. 3 Rascals is based on Chetan Bhagat's novel. The flick is expected to hit screens in 2012 for Pongal.