It is learnt that some of the top BCCI officials met Srinivasan and have tried to convey to him that it would be better for the BCCI's image and the IPL's credibility if he steps down.
But top BCCI sources said that Srinivasan has shown no inclination to step down from the post as yet, maintaining that he had done no wrong.
BCCI vice-President Arun Jaitley also had a meeting with Srinivasan though it is not known exactly what was discussed by the two.
A Board press release stating that Srinivasan will hold a press conference at 4pm triggered off speculation that he may indeed step down on his own.
But it appeared unlikely that he would do so having only yesterday strongly rejected that possibility saying that nobody could bulldoze or railroad him into submitting a resignation.
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