The panel will also decide the fate of two IPL franchisees Chennai Super Kings and Rajasthan Royals.

The Apex Court had on January 22 held that the allegation of betting against Meiyappan and Kundra stands proved and set up the three-member committee of its retired judges, including Justices Ashok Bhan and R V Raveendran to determine the punishment for Meiyappan, who was the CSK team Principal and Kundra, co-owner of RR.

Sources in the committee said the three former judges, who were asked to complete the task within six months, have also examined the amendments to the memorandum of association and rules and regulations considered necessary to provide a mechanism for resolving conflict of interest.

The apex court bench headed by Justice T S Thakur had said it was appointing an independent committee of judges keeping in view the "the trajectory of the present litigation and the important issues it has raised."
Further, the bench had said "the profile of the individuals who have been indicted, would, in our opinion, demand that the award of punishment for misconduct is left to an independent committee to exercise that power for and on the behalf of BCCI.

The Apex Court held that the allegation of betting against Meiyappan, son in law of former BCCI president N Srinivasan, and Kundra stands proved while the charge of cover-up against Srinivasan was 'not proved'.

Under IPL rules, the franchise of a team can be cancelled if a team official indulges in any act that brings the game to disrepute.

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