Thiruvananthapuram: Senior Congress leader K Karunakaran today (Jan 28, 2004) announced floating of a new party.

The party will be known by the name of the late Indira Gandhi.

He made the announcement at a group convention amidst thunderous applause by his followers.

The new party will come into existence by February.

Instead of 'charkha', the party will have the picture of Indira Gandhi as its symbol, Karunakaran said.

"Not a single anti-Karunakaran member is going to see the Lok Sabha in the coming polls," he said.

He said there was no truth in the reports that he would have agreed to a patch-up if his son and KPCC (Kerala Pradesh Congress Committee) president K Muraleedharan was given a Cabinet berth.