'Corresponding author' (coauthor) is irresponsible regarding submitted paper. Should I step back from the collaboration? I, and my collaborator (coauthor) from a different university had finished a work last year. We had submitted the full research article to one of the journal published by Springer. My coauthor was the 'corresponding author' for the same. We both had contributed equally to this work over a span of 4-5 months.

The article was submitted on March, 2016. Just after few days of the submission, the paper status remained as "With Editor". Till today (now) the status has not changed at all (not even the date of the status).

I have been trying to convince my coauthor (who is also the corresponding author) to pull out the paper from such a badly managed venue and submit it somewhere else. However, he is reluctant and not interested to listen to me at all.

Moreover, I can't (shouldn't) directly write the e-mail for the withdrawal of the paper, as I am not the corr. author. Moreover, it may create conflict of interests.

I have been thinking to step back from this collaboration. Is it a good idea?
You're overreacting.  Good collaborators are hard to come by, so do not do away with a collaborator unless you have an issue with the academic side of collaborating with this person, not if you have an issue with a journal.

First, if you want to establish priority, send to arXiv or an equivalent site.  Next, simply tell your collaborator that unless he/she contacts the editor or the journal very soon you will do it yourself.  Your collaborator may be corresponding author, but it doesn't mean you cannot yourself ask for clarifications from the journal.  Lastly, you will achieve nothing by removing yourself as an author.

Now... you are in a frustrating situation and maybe you are just looking for an excuse to pull out or stop collaborating with this person, but that's another problem altogether.