Army Chief General Prayut Chan-O-Cha assumed the role of a crisis mediator as he chaired the meeting in Bangkok, that had a noticeably lesser military presence compared to yesterday.
Top officials of the ruling and opposition parties, Election Commission (EC) members and senators besides leaders of the pro- and anti-government protest camps took part in the meeting even as caretaker Prime Minister Niwattumrong Boonsongpaisan was conspicuous by his absence.
However, the meeting ended without any resolution, underlining the tough challenge the army faces in trying to end the country's crisis.
In a surprise pre-dawn move yesterday, Thailand's military declared martial law to maintain order in the troubled South East Asian nation.
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"The military will not tolerate any more loss of lives," Prayut said.
The military - which has intervened repeatedly in politics down the decades - acted after over six months of protests that have claimed 28 lives and left hundreds wounded.
"The Army aims to maintain peace, order and public safety for all groups and all parties," the military said in a statement, insisting that its assumption of responsibility for national security was not a coup.
"I will not allow Thailand to be like Ukraine or Egypt," he said yesterday, according to a transcript of remarks released by the military.
Niwatthamrong, who replaced Yingluck Shinawatra after a court dismissed her from office this month, yesterday said he had asked the EC to organise fresh elections on August 3.
Yingluck was accused of acting as a proxy for her fugitive brother, former premier Thaksin, who was ousted in a coup in 2006. Anti-government protesters have said they will disrupt any re-run held before electoral changes designed to reduce the influence of the powerful Shinawatra clan.