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BCCI AGM on March 2, key posts to be decided

The much-awaited Annual General Meeting (AGM) of the BCCI will be held in Chennai on March 2. 

An emergency meeting of the Working Committee today decided to hold the AGM in March after studying the Supreme Court order. The AGM is significant as elections for top posts in the Board will be held in the meeting.

The Board also decided to increase the monthly gratis scheme for all former cricketers by 50%, subject to a maximum of Rs 50,000 a month effective from January 2015.

The Supreme Court in its order on January 22 had asked BCCI to hold elections within six weeks.

It had also asked BCCI to ensure that no one who has any commercial interest in BCCI events (including N Srinivasan) shall be eligible for contesting the elections for any post whatsoever. The deadline, according to the order, for conducting the AGM falls in the first week of March.

The apex court in its order had convicted Srinivasan’s son-in-law Gurunath Meiyappan and Raj Kundra on match fixing and betting charges. It had, however, cleared Srinivasan of any cover up charges, but said conflict of interest in this case can’t be ignored.

The court observed that India Cements, which is the owner of CSK, is promoted by N Srinivasan and family and this created a conflict of interest.

Meanwhile, India Cements started its process of hiving off the IPL franchise to a wholly owned subsidiary even before the Supreme Court order. With the deadline for the AGM nearing, the company informed the exchanges that it has completed the required documentation for transfer of its Indian Premier League (IPL) franchise, Chennai Super Kings (CSK), to the wholly owned subsidiary – Chennai Super Kings Cricket Ltd.

The Board of Directors of the company would consider reorganisation proposals relating to the subsidiary at the meeting on February 11, 2015.

With this move, there is speculation that Srinivasan may sell the IPL franchise and contest the elections. Sources close to the BCCI say nominations can be submitted even a day before the AGM. 

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