Mr Madhavan, who has all along been involved in the formation of the Peravai, alleged there "is a lot of dominance of some evil forces," in the outfit that was recently launched.
Speaking to reporters after paying homage at the memorial of Jayalalithaa, he said these bad elements interfered in the working of the Peravai.
He said due to the interference, the Deepa Jayakumar-led Peravai could not function independently and hence, he had decided to launch a party and work on his own.
Answering a question, he said there was no "contradiction," in his move and asserted that his wife's outfit was only an "organisation" and his will be a full-fledged "political party."
Asked whether his proposed party will contest the April 12 R K Nagar bypoll, he said a decision will be taken as per the "wishes of the people." On the name of the party, he said it will be announced shortly and claimed that he has the support of cadres of the peravai.
Deepa Jayakumar together with Madhavan had launched the Peravai on February 24, the birth anniversary of Jayalalithaa.