Revanth, who flew down to Vijayawada for a meeting with TDP supremo and Andhra Padesh Chief Minister N Chandrababu Naidu, is understood to have handed over his resignation letter to Mr Naidu's private secretary and immediately left for Hyderabad.
When asked about it, Chandrababu Naidu told reporters that he has not received Revanth's resignation letter.
"Resignations are not new in TDP. Some people take decisions in their own interests," he said.
Revanth was arrested in the "cash-for-vote" case after he was caught on camera allegedly offering money to a nominated MLA for his vote in the MLC election in 2015.
For the past few days, there has been a turmoil in Telangana TDP with reports claiming that Revanth, who is an lawmaker from Kodangal in Mahbubnagar district, met Rahul Gandhi and was about to join the Congress.
Revanth also caused a stir by accusing some leaders of Andhra Pradesh TDP, including two ministers, of securing huge financial contracts from the TRS government in Telangana.
He met Chandrababu Naidu in Hyderabad yesterday, but the TDP chief summoned Revanth and other party leaders from Telangana for a detailed meeting in Vijayawada today.
Revanth flew down to Vijayawada, visited the Kanaka Durga temple and came to the CM's camp office for the meeting.
As the chief minister's arrival was delayed, the rebel leader handed over his resignation letter to Chandrababu Naidu's PS and left for Hyderabad.
Mr Chandrababu was later closeted in a meeting with other leaders from Telangana.