The actor expressed hope that the party, Prajakeeya, would be able to contest the coming assembly elections in Karnataka, expected in April/May.
"We have come to a unanimous decision that along with four to five people I'm tendering my resignation from KPJP (Karnataka Prajnavanta Janata Paksha). We will not have any relationship with KPJP here on," Upendra said.
After meeting his supporters and well wishers, he told reporters, "We have also decided that we will immediately prepare to launch a new party with the concept of Prajakeeya."
Upendra, who had earlier planned to take the political plunge by floating his own party, had in October announced his decision to join KPJP that Gowda had launched earlier.
Stating that the ideologies of 'Prajakeeya' that he has been propagating would continue in the new party, Upendra spoke about ensuring transparent government, complete change in the education system and providing quality health care.
He said, "We will launch Prajakeeya party as soon as possible. We will contest these (assembly) polls if possible. If it cannot be done, we will contest the next corporation or gram panchayat elections."
Asked if his new party would be able to contest 224 assembly seats during the coming polls, Upendra said they would immediately commence the activities to start the party.
"If the party is established and if we get the symbol, we will contest this time itself," he said.
He also said most of his candidates are ready, and what was needed was the formation of the party.
Upendra, who began his film career as a dialogue writer, has directed about 10 films and acted in about 50.
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