They said the party high command has convened the meeting tomorrow review the performance of the party ministers and other issues concerned to the party.
The tough stand taken by the chief minister on the gruesome incident had seen BJP dropping two of its ministers, who had attended a rally in support of the rape and murder accused, from the cabinet. "The only alternative was Governor's rule because there will be a single line administration", he said.
Training his guns on PDP leader and Chief Minister Mehbooba Mufti, Madhav said: "The main person responsible for taking care of the state's issues has not been completely successful in doing that".
The BJP blamed the PDP for failing to improve the security conditions in the Kashmir Valley.
Senior Congress leader Ghulam Nabi Azad said in Delhi the BJP had committed a "Himalayan blunder" by forming the alliance, which had devastated the state in "ruins".
Madhav cited last week's killing of senior journalist Shujaat Bukhari in the heart of Srinagar in the highly secured area of Press Enclave by unidentified gunmen.
Mehbooba Mufti told reporters after quitting: "I am not shocked as this alliance was never for power".More news: Oil prices fall as U.S. crude production hits another record
Direct rule by the central government would give the BJP a free hand to control the state ahead of a general election that must be called within a year.
Previously, the two parties have publicly blamed each other for massive mob violence and the rising militancy in Kashmir.
"The decision of the BJP to withdraw from the coalition is fraught with danger of creating greater political instability in J&K and signifies total political failure of party's approach towards the state", the leftist leader said, adding the BJP was equally responsible for contributing to the prevailing situation in the state. While the BJP was keen to project a strong nationalist image, the PDP was keen on pursuing a "healing touch" policy that included more open borders and addressing the internal and external dimensions of the Kashmir problem through dialogue. Governor's rule was imposed in the state for the second time during his tenure after the assembly election results on 23 December 2014, threw up a hung assembly with no party or combination of parties able to stake claim for government formation and Omar, the then caretaker chief minister, asking to be relieved from duties with immediate effect on 7 January. For the BJP, Jammu and Kashmir is a matter of great national importance also, he said, adding there was a grave concern in the country over the security situation in the state.
A day after BJP pulled the plug on its alliance with PDP in J&K, party general secretary Ram Madhav on Wednesday said that the saffron party is not in favour of showing any "mercy" to terrorists.
In another scenario, the Congress, the PDP and the main opposition National Conference (NC) could come together to form a government.
Soon after a United Nations report that was remarkably harsh on its record of human rights, three months after the USA offered to mediate between New Delhi and Islamabad and then changed its mind, and days after both a month-long ceasefire and China's offer of trilateral discussions on Kashmir, the Centre has made a decision to impose its own direct rule over the state.
"For the BJP it had become impossible to continue", said Happymon Jacob, associate professor of disarmament studies at Jawaharlal Nehru University in New Delhi.