In a significant development, Shah said it was imperative to do something to improve the image of the Board, taking into account the recent Bombay High court order.
The BCCI's internal two-member panel, formed to probe the spot-fixing scandal, had found no evidence of any wrongdoing against Chennai Super Kings and its Team Principal Gurunath Meiyappan, Rajasthan Royals and Raj Kundra.
However, reacting on a PIL, Bombay High Court had said that N Srinivasan, whose son-in-law Meiyappan faced betting charges, had a role in forming the probe panel thus he there was a conflict of interest. The court had found that the panel was "illegal and unconstitutional".
"In recent times, Board's image has really gone down. We must do something to improve Board's image because cricket is very important," Shah said.
"Board's legal team will take care of it, they will advise. We must have another panel, let's wait for for the IPL (GC) and Working Committee meeting," Shah said.
"At the moment, in the view of the Bombay High court judgement, Board should ensure that nothing like this happens in future, BCCI should take strict measures, we have zero policy against Corruption," he added.
Former BCCI Treasurer Ajay Shirke, who resigned in the wake of the spot-fixing scandal, said that the Board had many legal experts and they should take the correct decision.
"I am sure the legal experts in the Board will be fully aware of the implications of the High Court order and they will take appropriate decision", Shirke said.
"Since I am not part of the Working Committee, it is not proper for me to make a comment on what decision they should take", he added.


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