Supreme Court limits BCCI's financial freedom
The Supreme Court of India has directed the BCCI not to distribute funds to its state associations until they comply with the Lodha Committee's recommendations
BCCI's financial wings clipped
The Supreme Court has asked the Lodha Committee to oversee financial transactions undertaken by the board by putting in place the following measures:
♢ Appoint an independent auditor to check the income received and expenditure incurred by the BCCI
♢ Fix a threshold value for BCCI contracts which would be overseen by the auditor from the tender stage
♢ Approve or disapprove BCCI contracts above the threshold value and obtain the advice of the auditors on the fairness of the tendering process
♢ Formulate the terms of engagement and reference for the auditors. The BCCI shall bear the costs, charges and expenses of the auditors
Nagraj Gollapudi is a senior assistant editor at ESPNcricinfo