The panel, set up in January by the Supreme Court to determine the quantum of punishment in the case, also recommended life bans on Chennai Super Kings official Gurunath Meiyappan and Rajasthan Royals' Raj Kundra from all cricket-related activities.

Meiyappan, son-in-law of International Cricket Council (ICC) chairman Narayanswamy Srinivasan, and Kundra, a former Rajasthan co-owner, had been found guilty of illegal betting.

"As the face of the team, he (Meiyappan) ought not to have indulged in betting practices," retired chief justice R.M. Lodha, who headed the panel, read out from the verdict which also criticised the franchises for inaction that brought disrepute to the game.

"By regularly placing bets in IPL matches... he acted in gross violation of the anti-corruption code. "He is suspended for life from being involved in any type of cricket matches."

Legal gambling in India is confined to horse-racing while casinos are allowed only in a couple of states. The Supreme Court had earlier said the panel's verdict will be binding on the Indian cricket board (BCCI).

India's one-day international captain Mahendra Singh Dhoni leads the Chennai team while Australian Steve Smith captains Rajasthan Royals in the IPL.

Controversy swirled around the 2013 editions of the league with former India paceman S. Sreesanth and two other Rajasthan cricketers being arrested on suspicion of taking money to concede a fixed number of runs.

Sreesanth, who denied any wrongdoing, was subsequently banned for life by the Indian board.

"This is not unusual when a part-owner and team official indulged in corrupt practices," the panel said referring to Kundra.

"The unsavoury individuals and bad elements become bold enough to involve vulnerable elements, including players, to all sorts of corruptions."

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