Bit of a double edge sword for those involved really.
Firstly, they incurred significant losses on the project. They'll be working at a loss when preparing this up for a 3D BR release. Further expenses they may not realise let alone see followed by any profit. A DVD 3D release won't cut it. A BR release probably won't sell sufficient numbers to generate a profit.
Here in the UK 3D has taken off to a degree. It's a novelty which is swiftly wearing off. Seeing Sholay in 3D would be great. Seeing it on BR would be fantastic. Seeing the 3D BR on 2D BR alone will look strange as the superimposed effects will potentially look very artificial.
Either way, a bit of a double edge sword. 3D in India, i don't know how well its taken off if at all. Back in Punjab where my famly ancestry originates from BR isn't even sold in the city music and video stores on the basis that there's no market for it locally. That's disheartening. When my parents made their annual 4 month trip I gave them a shopping list of Bollywood BR's to bring back. Nothing. I even contacted some of the stores by phone but was told there's no interest in BR discs. How dissapointing.
Unfortunately, the UK market isn't much better. It's far easier acquiring the movie's in a non convential and offensive manner (torrent) than it is in the proper manner as none of the bigger stores stock the movies in the 'international' movies section.
If I were behind Sholay 3D, I'd look to release a steelbook. A limited edition. Then, within 6 months, i'd offer the 2D HD version to Zee and Star to destroy in order to put it up on their channels in a compressed format with banners and ads playing every 30 seconds.
Rant over.