The outgoing president of the Bharatiya Janata Party Lal Kishenchand Advani will tender his resignation from the presidentship of the party and make major announcements about the selection process and the new president of the party on December 31 at 11 am.

"The party wants to clarify that Advaniji is only stepping down from the post of the presidentship and he will continue to be the leader of the opposition. The party is firmly behind him and there is no question of him resigning as the leader of the party in Lok Sabha. His position in the party is unquestioned," M Venkaiah Naidu told newsmen at Rajat Jayanti Nagar on Tuesday.

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While Pramod Mahajan keeps telling media persons that the press conference will be held in Mumbai, the other leaders we spoke to said that the venue could be either Delhi or Mumbai.

"As far as the successor's selection is concerned, we are holding consultations and have almost arrived at a name," Naidu told rediff.com.

Jaswant Singh, who addressed the press conference, prevented a newsman from asking questions to Rajnath Singh who was present on the dais. Rajnath Singh, former chief minister of Uttar Pradesh, has been tipped to take over as the president of the party after Advani steps down.

"Official confirmation and name would be known only when Advaniji addresses the media on Saturday," Naidu said.

Dr Murli Manohar Joshi denied that he was in the race for the presidentship of the party at any point of time. "I have no such inclination," he said with folded hands.