Susmit, along with the late Asheem Chakravarty, had founded the band in 1990.
"Right now, I am at my creative best. Indian Ocean is a sound and style we created. After more than 27 years of playing, I feel I am brimming with more compositions, more music -- but in a grammar and style that is different from Indian Ocean," Susmit said in a statement.
"So I feel restricted now as I am sure must be the case with the others as well. I strongly believe that my moving on will be beneficial for both Indian Ocean and my creative expression as well," he said.
Susmit has already come out with an individual album called Depths of the Ocean,
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