India, meanwhile, has expressed concern over the developments in the Indian Ocean island nation, issuing a travel advisory, asking citizens to not travel to the country until the political crisis is resolved. India has also said that it was "disturbed" by the declaration of emergency in the Maldives.
Here are the Highlights on the political crisis in the Maldives:
After President Abdulla Yameen Abdul Gayoom amended the Presidential order lifting the restriction on the Supreme Court's powers to interpret the Constitution, the top court of the island nation, amended its controversial verdict on two points.
One, the government said, it nullified its ruling on the point that the Judicial Services Commission had no mandate over the Supreme Court judges.
Second, it also withdrew the order to the Yameen government to release nine imprisoned opposition political leaders, including many of President Yameen's political rivals.
The Maldives Government has welcomed the Supreme Court's revision of its order.
The statement by the Maldives government said that on February 2, the Supreme Court Chief Justice returned phone calls to Maldives' Attorney General and conveyed what the statement terms as "legal complexities and implementation" of the court order. The Maldives government said it had also directed the Prosecutor General to submit the government's concerns as well.
The Prosecutor General made a detailed submission to the Supreme Court, the following day, on February 3, said the statement.
The statement says that the Supreme Court had then replied back on the same day, saying that it saw no legal obstacles to implement its order.
The Maldives government then claims that the Prosecutor General was not given a hearing or audience to present her case.
Following this back and forth, the Maldives government says that "the Supreme Court deliberated on a motion to declare the President dismissed from his post".
The government claims that neither the Attorney General was given an opportunity to declare the state position, nor was President Gayoom given an opportunity defend himself.
According to news agency PTI, India is expected to follow a standard operating procedure (SOP) that includes keeping the troops in readiness, government sources indicated today.
The Indian Navy patrols sea lanes around Maldives as naval cooperation between the two countries are robust, says a report by news agency PTI.
The official statement from the government of Maldives said that the Maldives government was "taken by surprise" by the Supreme Court order, as it was "not in alignment with the Constitution or accepted legal principles".
The official statement also claimed that the Supreme Court order was passed privately, without a public hearing.
Ahmed Shiyam, who is the Maldives' military chief, has openly backed President Abdulla Yameen. "The Maldives military will not stand by and watch Maldives go in to a crisis," he said on Sunday, warning he would not obey "unlawful orders" from the Supreme Court.
India is disturbed by the declaration of a state of emergency in the Maldives following the refusal of the government to abide by the unanimous ruling of the full bench of the Supreme Court on 1 February, and also by the suspension of Constitutional rights of the people of Maldives. The arrest of the Supreme Court Chief Justice and political figures are also reasons for concern.
The Indian government continues to carefully monitor the situation.
While India has said that it was "closely" monitoring the situation in the Maldives, former President Mohamed Nasheed said in a tweet, that he would like for India to send an envoy, backed by the military, in order to free the judges and political detainees.
In the tweet, he also asked the US to stop all financial transactions of the Maldives regime.
On behalf of Maldivian people we humbly request:- Mohamed Nasheed (@MohamedNasheed) February 6, 2018
1. India to send envoy, backed by its military, to release judges & pol. detainees inc. Prez. Gayoom. We request a physical presence.
2. The US to stop all financial transactions of Maldives regime leaders going through US banks.
Maldives' Leader of Opposition Fayyaz Ismail, speaking to NDTV, criticised President Abdulla Yameen. He said the President's justification for the declaration of emergency in the island nation was "entirely gibberish".
Mr Fayyaz also said that he didn't see "any more room" for a diplomatic solution to the crisis. He said that India needed to issue a firm stand on the political crisis in the island nation. He said President Yameen needed to be "firmly handled" and that he should learn the "consequences in derailing democracy".
Maldives president Abdulla Yameen accused the Supreme Court judges of trying to overthrow him, hours after a state of emergency was declared in the Maldives.
Further justifying the declaration of the emergency, President Yameen said that it was to be found out "how thick the plot or coup was."
"We will find out why this happened. How thick this plot is. How deep the roots go," he said, adding "I ask the people to support me. Give me the chance to get to the bottom of this."
President Yameen further said that the court had exceeded its authority under the constitution, and this was what forced him to take action.
The Ministry of External Affairs (MEA), in a statement, has appealed for "the spirit of democracy and the rule of law" to prevail in the ongoing political crisis in the Maldives.
The MEA statement asks for the Maldives government to respect the Supreme Court order.
"It is imperative for all organs of the Government of Maldives to respect and abide by the order of the apex court," the MEA statement says.
Right after the emergency was declared in the Maldives, the Ministry of External Affairs issued a travel advisory asking Indian nationals to defer non-essential travel to the Maldives capital Male and other islands until further notice.
The advisory also urged Indian nationals and expatriates to avoid public gatherings, due to the increasing number of protests throughout the island nation.
The US and China have issued travel advisories as well.
Exiled former Maldives president Mohamed Nasheed has urged India to "act swiftly" to help resolve the deepening political crisis.
Mr Nasheed had been sentenced to 13 years in jail on terror charges, in March 2015. He claims that the charges against him were politically motivated. He was granted asylum in the UK after he was authorised to seek medical treatment there.
The Maldives government holds that Mr Nasheed is convicted and is wanted in the Maldives to serve a jail sentence.
Earlier, Mr Nasheed was narrowly defeated in 2013 by current President Yameen.