The apex court said this while striking down an amendment to the BCCI rules which permitted the office bearers of the apex cricket body to have commercial interests in the Indian Premier League (IPL) and the Champions League Twenty20 and all events organised by the BCCI.

The apex court bench, headed by Justice TS Thakur, held Srinivasan's son-in-law and CSK "official" Gurunath Meiyappan, and IPL franchise Rajasthan Royals' co-owner Raj Kundra guilty of betting and said the punishment will not only be confined to them but also extend to the franchises they represent.

The court set up a three-member committee headed by former Chief Justice RM Lodha to decide, besides other issues, the quantum of punishment to be given to Meiyappan and Kundra.

The court also asked Srinivasan to stay away from the BCCI on account of his commercial interest in CSK.

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But the court made a distinction between commercial interest and professional interest in respect of service rendered by prominent former cricketers Sunil Gavaskar and current Indian team's director Ravi Shastri as commentators.

However, it also said that Srinivasan was not guilty of cover-up and "charges against him, at best, be regarded as suspicion." It also said that "BCCI functions are public functions, amenable to judicial law."

"At best there is only a case of suspicion of cover-up against Srinivasan. He had deep-rooted interest in CSK matches; his behaviour raises suspicion but isn't proof," the apex court said.

The SC court read out a 130-page verdict based on the final probe report submitted by the Justic Mukul Mudgal committee, wherein it stated that Meiyappan, son-in-law of Srinivasan, was indeed an official of the Chennai Super Kings (CSK) and did place bets on matches.

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