The 1996 film, a thriller, featured Tara Deshpande, Smriti Mishra, Nirmal Pandey, Saurabh Shukla and Ashish Vidyarthi among others.
"We are making a sequel - we are relooking at the story. The film was liked by people and I want to get back to the space of thriller," Sudhir Mishra told.
Reportedly, the sequel will have Chitrangda Singh, Irrfan Khan and Arunoday Singh. "We would like to take it ahead as 'Iss Raat ki Subah Nahin' one, two, three, four," Mishra said, without divulging further details about the sequel.
Mishra's other upcoming ambitious project is 'Mehrunissa' which will star Amitabh Bachchan.
"The script of 'Mehrunissa' is almost finished. It is a big budget film. We will make an announcement soon," he said.
Grapevine has it that 'Mehrunissa' is the story of a woman who acts as a catalyst in bringing together two estranged friends. Besides Rishi Kapoor, actresses like Chitrangada Singh, Deepika Padukone, Vidya Balan and Katrina Kaif are being considered for the film.
Mishra's next release 'Inkaar' deals with the subject of sexual harassment and stars Arjun Rampal and Chitrangada Singh. "It is a great story. The film is in post-production stage and we will release it in January 2013," Mishra said.