The "Hazaron Khwaishein Aisi" director has also been signed to make a film for Pritish Nandy Communications.
Mishra is currently readying for the release of his production, "Kal", scheduled for a Sep 16 release. "Kal" marks the directorial debut of his assistant Ruchi Narain.
"She is the next young promising director in the league of names like Nikhil Advani and Anurag Kashyap," Mishra disclosed, reports Bollywood Trade.
Mishra has cited creative interference as the reason behind his opting out of the Zee Talent Hunt project.
"I had completed the script of the film and was all set to go ahead with it. However, I was not comfortable with the creative set-up because there were too many people influencing the film at every stage. Besides Mukta Arts took over the film at one stage and I felt they could do better justice to it," Mishra revealed, adding that he has now decided to use the script for another film that he is making.
The ambitious film, which was to launch the winners of the Zee Talent Hunt contest, never got made after Mishra opted out of it. More recently, music director Shravan signed the two winners for his production debut with an official clearance from Zee.