The Supreme Court has asked the Lodha Panel to fix a monetary ceiling for the Board of Control for Cricket in India (BCCI). The Indian cricket body will not be allowed participate in contracts above the monetary limit set by the Lodha panel. The contracts include media rights, ground rights and so on.
The Lodha Panel has been asked to fix a limit for BCCI’s financial transactions because the cricket body hasn’t yet implemented the Lodha Commitee recommendations.
The BCCI will have to get the Lodha panel’s approval if they want to transact above the monetary ceiling.
The Supreme Court has also asked the BCCI not to release funds to the state associations till they promise to implement the Lodha Commitee recommendations.
The Lodha Panel has also been asked to appoint independent auditors to scrutinise the BCCI accounts.
The Supreme Court has directed the BCCI president Anurag Thakur to give undertaking to comply with Lodha panel recommendations and court orders.
(With inputs from PTI)
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