The 42-year-old played the role of Dev Alahan's (Jimmy Harkishin) wife Sunita between 2001 and 2006, before being written out in a storyline which saw her pregnant self find that her husband had children with several different women.
Since the character's departure, she has been mentioned in several scripts, while Dev has made a number of return visits to see his children - twin boy, Aadi, and girl, Asha.
Last week, Corrie producer Kim Crowther teased to DS: "We have a great new direction for Dev after Tara's exit. Further down the line, we build more family around Dev again and it might signal the return of some old faces..."
Meanwhile, a source today told The Mirror: "Talks have been going on for some time to finalise a deal acceptable to all those who are involved."
They added: "Sunita was a great character, so to have her back is exciting."
A show spokesperson said: "Talks have been going on, but nothing has been signed and sealed."
Monday's episode signalled the departure of Dev's now ex-girlfriend Tara Mandal (Ayesha Dharker) after she publically humiliated him by unveiling a 30-foot naked photo of him following the discovery that he'd had a one-night stand with her family accountant Lisa (Ruth Alexander-Rubin).
Since leaving Corrie, Gulati has appeared in various shows including Where the Heart Is and New Street Law. Before her stint at the Manchester-based soap, she starred in BBC drama Dinnerladies.