Supreme Court Bars Financial Powers Of BCCI

October 21, 2016 12:48
Supreme Court Bars Financial Powers Of BCCI

The Supreme Court, on Friday, has ordered the freezing of financial transactions between the BCCI and its state associations with immediate effect which also includes funds for match purposes.

The SC has said that the funds would be released after it considers the genuineness of association affidavits to abide and implement reforms recommended by the Lodha Committee.

The Supreme Court has ordered Board of Control for Cricket in India (BCCI) President Anurag Thakur and Secretary Ajay Shirke to file and affidavit by December 3 on how they have implemented its July 18 judgment on the reforms suggested by the Lodha Panel and how much time it requires to do so.

Additionally, the Court has also directed the Lodha Committee to appoint an independent auditor to scrutinize BCCI’s accounts and high value contract awarded by the cricket board, a significant move as the media rights of the Indian Premier League (IPL) has remained to be sold for 10 years.

The BCCI presidents has been directed by the court to personally appear before the committee and explain how the board plans to implement the reforms.

By Prajakt K.

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