He breathed his last at 3 am at his residence in Hyderabad. Family members said Srinivas, who was suffering from illness for the past few days, died of a heart attack.
Rajya Sabha member KR Suresh Reddy was earlier appointed as the party parliamentary leader as well as the party floor leader in the Rajya Sabha, replacing K Keshava Rao who switched over to the Congress recently.
In a five page letter to the Chief Minister on Tuesday, Krishnaiah highlighted the state of unregulated and arbitrary fees being collected by private colleges in the State.
"The complaint is registered only when the complainant registers his complaint in writing in the police station, in this case also by Swati Maliwal. Unless a written complaint is lodged, Delhi Police can neither register any complaint nor any FIR."
His resignation has set off a discussion on whether or not the other six legislators in Telangana, who defected to the Congress would also send in their papers voluntarily.
The State leadership has reportedly directed all party candidates and leaders to hold street corner meetings in their respective constituencies and tell people that the BJP did not have any plan either to change the Constitution or to end reservations.
According to BJP State general secretary Gujjula Premender Reddy, Goa Chief Minister Pramod Sawant and party State president G Kishan Reddy would accompany party Medak candidate M Raghunandan Rao to file nomination.