MUMBAI: Adlabs Films’ Praveen Nischol will soon be stepping down in his capacity as the CEO of the company’s production division. However, Nischol will not be severing ties with the company post that.

While the trade and media have been speculating about his next move, Nischol speaks to Businessofcinema.com and clarifies his stand. “When I had joined Adlabs, my mandate was to set up the company’s film production arm. The idea was to set up a studio system. However, it was clear from the start itself that in a few years’ time I will be starting production of my own films,” he says.

When queried as to who will head the Adlabs Films production division once he steps down, he says, “The production at Adlabs will be overseen by Manmohan Shetty.”

Nischol has two production companies called Daasa Movies and Praveen Nischol Productions, which he will now be reviving. What’s more, to begin with Nischol will be co-producing movies exclusively with Adlabs. “The films I make will be exclusively for Adlabs. I may make them independently or join hands with others like Ram Gopal Varma for these films,” he says.

Nischol has produced and directed the Shah Rukh Khan starrer English Babu Desi Mem in 1996, under the banner of Daasa Movies.

Adlabs had set up a 100 per cent subsidiary, Entertainment One, to finance and produce films, which was headed by Nischol earlier. He then stepped up as Adlabs Films production CEO.