BCCI to cut short India-NZ cricket series after bank account freeze
Reacting angrily to the BCCI�s refusal to comply with key recommendations of the Justice Lodha committee, the Supreme Court-appointed three-member panel has directed two nationalised banks, which holds the BCCI accounts, to stop disbursement of funds to states' associations
The ongoing cricket series between India-New Zealand series has to be cut short amid growing tension between the game’s governing body BCCI and Supreme Court-appointed Lodha Panel.
According to Indian Express, the BCCI decided to cancel the rest of the New Zealand series as it has no other “option” after Lodha panel issued a letter to the banks, urging them to not give BCCI access to funds.
“We have no option other than to call off the India-New Zealand series as our banks have decided to freeze BCCI accounts. We don’t want India to be humiliated in front of the world. How can we function, how can we hold any games now? Who will make the payment? Freezing a bank account is no joke. An international team is here, and there is so much at stake,” a top BCCI official told Indian Express.
Reacting angrily to the BCCI’s refusal to comply with key recommendations of the Justice Lodha committee, the Supreme Court-appointed three-member panel has directed two nationalised banks, which holds the BCCI accounts, to stop disbursement of funds to states' associations.
The Supreme Court-appointed Lodha Panel directed the banks not to disburse any funds for the financial decisions taken by the board at its Special General Meeting on September 30.
The Times of India reported that Bank of Maharashtra chose to freeze the BCCI account on Monday (October 3) itself while Yes Bank was considering what action to take. The report added that the banks would be reluctant to upset the Lodha Committee, which is acting on behalf of the Supreme Court.
Lodha panel was formed as directed by the Supreme Court in January 2015 following the IPL spot-fixing scandal and has been directed to decide on changes that need to be brought into the administration of BCCI to ensure transparency in its functioning to prevent conflict of interest and other malpractices.