"The BCCI might have cleared them but I think the Indian Cricket Board should wait for the police probe to get over," said sports secretary PK Deb in New Delhi.
A two-member panel, comprising former high court judges T Jayaram Chouta and R Balasubramanian, was mandated to enquire into the roles of Srinivasan's son-in-law Gurunath Meiyappan, who was the team prinicipal of Chennai Super Kings, Rajasthan Royals and its co-owner Raj Kundra.
The panel submitted its report to the BCCI Working Committee, which met in Kolkata on Sunday, where it said that it has not found evidence of any wrongdoings.
"There is no evidence of any wrongdoing found by the judges against Raj Kundra, India Cements and Rajasthan Royals. The report will now be forwarded to the IPL governing council which will take a final decision when it meets on August 2 in New Delhi," BCCI vice-president Niranjan Shah had told reporters.
Since the panel's order is binding on the BCCI, it is clear that Srinivasan might return as board chief.
Srinivasan could stage a comeback as BCCI chief as early as August 2 when the board's working committee and the IPL governing council meet in New Delhi to take a final call on the issue.