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Lodha tells banks to halt two BCCI disbursements
- Updated: October 3, 2016
The Lodha Committee has asked two Indian banks not to disburse funds from the BCCI accounts to the state associations with regard to two financial decisions taken at the board’s emergent working committee meeting on September 30.
At the meeting on Friday the BCCI decided that all its full members – with the exception of the out-of-favour Rajasthan Cricket Association – would get INR 10 crores as an increment to the state associations’ existing infrastructure subsidy of INR 60 crore. The working committee also decided that money received from broadcasters as compensation for the cancellation of the Champions League T20 would be distributed among the BCCI’s full members.
The committee said it had issued such a directive to the banks because the BCCI’s decision to disburse such funds was not in line with the recommendations of the Lodha report, which the Supreme Court said the board must adopt in its order on July 18.
“It has come to the notice of this Committee that certain decisions have been taken at the ‘Emergent Working Committee’ meeting of the BCCI on 30th September 2016 to disburse large funds to the various member associations,” the Lodha Committee said to Bank of Maharashtra and Yes Bank in an email that was also copied to BCCI secretary Ajay Shirke, treasurer Anirudh Chaudhry and chief executive …
