All eyes are on Nationalist Congress Party President Sharad Pawar who is likely to clear the clouds as the current political logjam over government formation continued, here on Wednesday.
Pawar, busy with a series of meetings with ally Congress leaders, will address a press conference this afternoon where a significant announcement could be made, party sources indicates.
The Bharatiya Janata Party on Tuesday made it clear that the post of Chief Minister is 'non-negotiable' but doors were open for all other negotiations.
However, Shiv Sena circles consider it as virtually the doors slammed shut on its face and is now hoping to finalise other options.
The Sena has made it clear that the BJP must honour its pre-Lok Sabha commitment on power-sharing including the post of CM for 30 months, but the BJP has countered by saying the Sena has not yet submitted any proposal in the matter.
Sena MP Sanjay Raut reiterated on Wednesday that there was "a clear understanding in sharing the post of CM which finally resulted in the alliance with BJP".
He also declared that any attempts to impose President's Rule in Maharashtra would be an insult to the "people's mandate" and "injustice to the people of the state".
Ostensibly as a desperate measure to rein in the Sena, Chief Minister Devendra Fadnavis rushed to Nagpur and met Rashtriya Swayamsevak Sangh chief Mohan Bhagwat, late on Tuesday, but the outcome of the meeting is not clear.
On Monday, Sena leader Kishor Tiwari, who is an advisor of Thackeray, has sought RSS' intervention and wanted Union Transport and Highways Minister Nitin Gadkari to be deployed to sort out the power-sharing imbroglio.
Pawar, who is understood to have received a green signal from the Congress, may put the ball in Sena court for extending Opposition support.
Since the past four days, the NCP-Congress' only precondition for extending support to the Sena is that the latter must walk out of the NDA and withdraw its sole union cabinet minister to win the Opposition's confidence.
If that happens, the NCP could join the government, Congress would extend outside support but may settle for the post of Speaker and the entire issue could be resolved by Friday -- the last day of the term of the Maharashtra Legislative Assembly.