Karnataka has been ordered to release 6,000 cusecs of water for the next six days.
Leaders of both Houses, lawmakers, including central ministers representing the state, ministers concerned of Cauvery basin and district in-charge ministers have been asked to attend the meeting, officials of the Chief Minister's office said.
The top court said that Karnataka will not show any defiance and warned saying "no one would know when the wrath of the law" would fall on it.
A bench of Justices Dipak Misra and U U Lalit also directed the Centre to constitute the Cauvery Water Management Board by October 4.
After the order, protests were reported from Mandya and Mysuru districts where police have made elaborate security arrangements.
Karnataka Water Resources Minister M B Patil had said the government will decide further course of action after going through the judgment and discussing with the legal team headed by advocate Fali Nariman.
Karnataka has maintained its inability to release water to Tamil Nadu citing low storage in its reservoirs and drinking water needs of Bengaluru and neighbouring districts.
The state assembly on September 23 had also adopted a resolution saying that it will not provide water for any other purpose except to meet drinking needs, citing "acute distress" and "alarmingly low levels" in dams.
The opposition BJP and JD(S) have expressed disappointment over Supreme Court's order and the stand taken by Mr Nariman, representing the state in the case.
Terming court order as "shocking", BJP's state president B S Yeddyurappa said the order to release 6,000 cusecs till October 6, does not take note of the ground realities.