The legislature party meeting will be held on Friday in the presence of the central observers and party in-charge of Uttarakhand affairs Shyam Jaju.
Hema Malini and Shaina NC have also been omitted from the group.
Chief Minister Harish Rawat lost both seats he contested.
Chief Minister Adityanath has total assets worth over Rs 71 lakh, while Deputy CM Keshav Prasad has total assets of over Rs 9 crore.
In the given scenario, Doiwala MLA Trivendra Singh Rawat and Pithoragarh MLA Prakash Pant emerge as the two most favourites.
Authorities also said the recovery rate of COVID-19 patients was improving consistently in India and it was in a much better position in handling the pandemic, which has seen more than 63 lakh people testing positive for this virus since its emergence in China last December and over 3.7 lakh having lost their lives.
Close aides say Rawat does not give in easily and uses all political tools to marginalise his adversaries.
Congress Vice president Rahul Gandhi's live video chat session appeared to be a last-ditch effort to bridge the gap with party workers and boost their morale with an eye on the coming general election. Anita Katyal reports
Questioning the timing of the remarks, the BJP demanded a statement from former PM Manmohan Singh and former defence minister A K Antony on the issue.
With the Bharatiya Janata Party waiting to pull down the Congress-led state government, the new chief minister's duration of service will all depend on the results of the Lok Sabha elections, says Anita Katyal.