"Was an honour to launch the music for Masterji's film 'Bhikari'," Varun tweeted on Monday night.
Alia tweeted: "Such a pleasure to launch Masterji's song today! A film that's made from his heart."
Acharya has previously directed Hindi films like "Swami" and "Money Hai Toh Honey Hai".
"Bhikari" reportedly revolves around the sensitive relationship between a mother and her son in the backdrop of their business.
The film features actors Swapnil Joshi, Rucha Inamdar, Guru Thakur, Sayaji Shinde, Milind Shinde, Kirti Aadarkar and Pradip Kabra among many others. The muhurat event of "Bhikari" was held in the presence of megastar Amitabh Bachchan.