Soundtrack sees the actor playing a DJ with tinnitus whose meteoric rise to fame fuels his drink and drug problem.
Khandelwal told Hindustan Times: "My character battles his dark side, just as Two-Face does. Neerav (director Neerav Ghosh) told me he used Aaron's [Eckhart] character, who plays the upright District Attorney-turned-villain from The Dark Knight, as a reference point.
"My character doesn't have a visible evil to battle, he struggles more with the inner demon that takes over and shatters his life when he faces success."
Khandelwal added: "With Ronak going deaf, his dreams are shattered and he ends up going into a very dark and lonely place."
The indie star revealed that he had decided against doing any additional research for the role, saying: "I will not romanticise learning to play a hearing impaired DJ for Soundtrack. I didn't go to any institute; I just followed my director's research and my instincts as an actor. I didn't watch any films on the subject."
Khandelwal said this week that he hopes the more commercial nature of Soundtrack will give him more opportunities in Bollywood.
Soundtrack is a remake of the low-budget British independent film It's All Gone Pete Tong.