Chennai, May 29 (IANS): Contradicting some reports, leading production PVP Cinema which has a few projects lined up, including one with a popular star, has clarified that it is not shutting down.

"There were rumours pertaining to PVP Cinema in some section of the media that we are contemplating to call it quits in the Tamil film industry. We are aware of the fact that it is a daydream of certain vested interests. We are a seasoned production house and we are fully aware of the low and high tides in the industry," read a statement from the production house.

According to the company, an occasional drawback can never spell a doom on their establishment.

"We have a very important lineup of films, including one much expected hero-director combination that would possibly be the biggest of our times. May we request your good self to ignore the dirty rumour on our company's closure and extend your valuable support as always," the statement added.

The company is currently bankrolling India's first submarine-based war film called "Ghazi", which is being made in Hindi and Telugu.