MUMBAI: After the debacle of movies like Jumbo and 8×10 Tasveer, Percept Picture Company (PPC) has seen many a heads rolling over the last few months.

The latest is that Percept Picture Company and P9 CEO Navin Shah has put in his papers.

While Shah confirmed the development to Businessofcinema.com, he refused to comment further. “Yes, I have put in my papers at the organization and will be ready to talk about my next move in a few days time,” he said.

Earlier this year, Percept Picture Company CFO Milind Dabke and motion pictures head Rohit Arora resigned from the company. Additionally, at least 12 mid-level professionals have also either been given the pink slip or have resigned recently.

Shah joined Percept in 2005 as the CEO of P9 Integrated, which is the entertainment marketing arm of Percept Ltd. In August 2008, he was given the additionally responsibility of Percept Picture Company. This position was vacant for six months after the then CEO Preet Bedi quit the organisation.

Earlier this year, PPC was also the one company that had not aligned with the producers’ body over revenue sharing when it signed its movies with multiplexes. The reason being that its movie 8×10 Tasveer needed to release as per schedule and PPC was also keen to secure the fate of its other movies. Moreover, in an interview with Businessofcinema.com, Percept joint managing director Shailendra Singh had mentioned that the company was planning to list on the bourses in Q4 2008. However, the IPO plans were put on the backburner due to the economic downturn.

While PPC has announced films like Jail with Madhur Bhandarkar and Come On Pappu with David Dhawan, it remains unclear as to who would be spearheading the company.