Significantly, Yadav said they would "not" quit AAP as he emphasised that it does not belong to a "single" person.
On the day of a meet organised by the AAP dissidents, Bhushan, who was particularly aggressive, sought to take on the party's top leadership for "threatening" to expel those attending the same, saying it meant that "there is no place for dialogue in the party".
As to the crisis that has rocked AAP, Bhushan said that going to the court or Election Commission against those who have "captured" the party would be a "long and messy" affair.
Yadav for his part said that the attendance at the meet was indicative of the fact that the problems which have beset AAP are not limited to only one or two people.
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Both Bhushan and Yadav appeared to steer clear of the question of the launch of a new party even as they stressed on the importance of a "new start".
"We need time to prepare, today is not the day for a new party. We will keep working for the people. We will not leave this party, it does not belong to a single person," Yadav said.
Echoing those thoughts, Bhushan said that "if today we announce the launch of a party" it would run into the "same situations" that AAP is now facing.
"The day we manage to show that our movement has stayed true to its ideals, we can make it a political party," the senior lawyer said.
Earlier, the rebels' meet began in the presence of volunteers from across the country, who termed it a day for a "new beginning" even as AAP warned of action against those attending the event.
Triggering speculation that they wanted to float a new party, Yadav and Bhushan had announced their decision to hold the 'Swaraj Samwad' meet to discuss the future course of action after their expulsion from AAP's top echelons.