Senior Samajwadi Party leader Shivpal Yadav tells ANI he is forming a new party called, 'Samajwadi Secular Morcha'. The party chief will be Mulayam Singh Yadav. "Neta-ji ko unka sammaan vapas dilane, aur Samajawadion ko ek saath laane ke liye is morche ka jald hi ailaan hoga. We will announce the party soon. It will restore Netaji's (Mulayam Singh Yadav) honour and unite people faithful to the Samajwadi Party," Shivpal Yadav said.

On Wednesday, Shivpal Yadav had threatened to float a new secular front if his nephew and former CM Akhilesh Yadav doesn't hand over the party reins to Mulayam Singh Yadav.

His comments come in the wake of the party's defeat in the recently-concluded Uttar Pradesh Assembly polls, which was contested under the leadership of Akhilesh.

The SP in alliance with Congress managed to win only 54 seats in the 404-member Assembly.

Shivpal was the party's state president at the time.

"Akhilesh had promised to hand over the party to 'netaji' (Mulayam). He should now do so and we all will strengthen the SP. I had also given him three months' time. Otherwise, I will constitute a new secular front," Shivpal told PTI. He recently said that he would unite 'Samajwadis' (socialists) and bring them on a common platform.