A decision on en masse resignation by ministers and legislators is expected to be taken at the meeting.
At least five ministers and some legislators met at the Chief Ministers' Residential Complex here late tonight and strongly condemned the Union Cabinet's decision.
Sources in the Chief Minister's Office said Kiran Reddy convened the meeting with ministers and legislators from Seemaandhra to discuss "various issues and future course of action".
"It's a black day in democracy," they said.
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Some ministers also met the Chief Minister at his camp office.
Though the ministers and several legislators expressed willingness to quit their posts and also from Congress, the Chief Minister reportedly prevailed on them not to take such a step.
"We have to defeat the resolution (on the state bifurcation) when it comes to the assembly," Kiran reportedly told them.