Even as the resignation of K Chandrasekhara Rao from the party president's post has plunged the Telangana Rashtra Samiti into a deep crisis, the party executive will meet in Hyderabad on Wednesday to discuss the issue.

The party general secretary T Madhusudhanachary said that the meeting will be held at 3 pm on Wednesday and Chandrasekhara Rao will preside over it.

"The party leaders feel that KCR is not responsible for the defeat of the party in the byelections and we will work under his leadership," Chary said.

A group of senior leaders including the members of assembly met KCR at his residence for almost two hours to persuade him to withdraw the resignation, but he remained adamant.

"He told us that he will work as an ordinary worker for Telangana till his last breath but the party should be led by someone else. He wanted us to understand his feelings over party's debacle in the elections. But we feel that KCR alone can lead the party and no one else in the party is capable of leading it," said K Nagesh, one of the legislators who met KCR.

"KCR is saddened that even after seven years of struggle for Telangana, when the issue was taken to the grassroot level and people were asked to give verdict whether they want Telangana or not, this result came," Nagesh revealed.

Nagesh said that in view of the party leaders the defeat of the TRS in the byelection was the result of the conspiracy by the anti-Telangana forces and pro-Andhra parties.

"They know that only KCR can lead the party and if he is weakened, the Telangana movement can be undermined," he said.

T Harish Rao, another legislator of the party and nephew of KCR, also asserted that at any cost the party should be led by KCR. "Achieving Telangana will be possible only under his leadership," he said.

The news that even after three days of persuasion KCR was still bent upon quitting the leadership came as a shock to the party leaders and workers. Sudarshan, Warangal district president of TRS, said that if KCR does not withdraw his resignation, all the district presidents will also resign.

A group of party workers went on indefinite huger strike in front of KCR's residence in Banjara Hills as the hordes of supporters keep coming to inquire about the latest situation.

The resignation evoked mixed reaction from other political parties. Senior Bharatiya Janata Party leader Vidyasagar Rao urged Rao to withdraw the resignation and continue to lead the movement till the goal was achieved. "The resignation is like fleeing from the battlefield," he said.

But T Jeevan Reddy of Congress, who had contested against KCR in Karimnagar in the just concluded byelections, said that TRS' defeat was because of the arrogance of K C Rao and he should accept the responsibility.

Nagam Janardhan Redd of the Telugu Desam Party described the resignation as "drama" to divert the attention of people from the electoral defeat.