Jagmohan Dalmiya, who was named the interim chief after Srinivasan had stepped aside pending an internal inquiry into the IPL spot-fixing scandal, will continue in the position for the time being.
The decision to call off the Working Committee meeting was taken after a series of discussions among the top brass of the BCCI and amid fears of a revolt against the Tamil Nadu strongman if he tried to make a comeback under the circumstances.
BCCI sources said that it took intense persuasion from Board vice-President Arun Jaitley, also a legal luminary, Dalmiya and IPL Chairman Rajeev Shukla for Srinivasan to back down from his adamant stand.
The BCCI also feared more legal complications if Srinivasan returned to the top post and chaired the Working Committee meeting since the probe, which cleared his son-in-law Gurunath Meiyappan, had been declared illegal by the court.
It is also learnt that two vice-Presidents and some other top officials were threatening to resign if Srinivasan chaired the meeting.