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Lodha Panel instructs state associations to not utilise transferred funds
The two large payments for which the Supreme Court-appointed Justice RM Lodha Panel got the bank accounts of the Board of Control for Cricket in India (BCCI) freezed on Monday, have already been disbursed to the state associations by the BCCI, it is learnt.
The two large payments for which the Supreme Court-appointed Justice RM Lodha Panel got the bank accounts of the Board of Control for Cricket in India (BCCI) freezed on Monday, have already been disbursed to the state associations by the BCCI, it is learnt.
The payments were related to an increase in infrastructure subsidy to the states, and the distribution of funds received by the BCCI from the broadcasters of the Champions League T20 because of cancellation of the tournament.
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The Bank of Maharashtra and Yes Bank, who operate the BCCI accounts, froze the accounts on Monday night, but the money had already been transferred to the state associations.
However, the associations can’t touch the amount after Gopal Sankaranarayanan, secretary to the Lodha committee, emailed instructions of “don’t utilise the funds till the next order”.
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“The banks confirm that most of these transactions were hurriedly carried out by RTGS between 29th September and 1st October,” Sankaranarayanan, is understood to have written to the associations. He instructed that the actions of the BCCI to transfer these funds is contrary to Lodha Committee’s directions and hence you (state units) are directed not to in any way transfer or disturb those funds that have been transferred to your association.
