Thakur said the board would take a decision soon on the fate of the ongoing home series against New Zealand, which still has a Test and five one-dayers left.

We have no option other than to call off the India-New Zealand series as our banks have chose to freeze BCCI accounts, the BCCI official was quoted as saying. Who will make the payment?

The instructions led to the banks freezing the board accounts even though things stood sorted out later following clarification from the Lodha Committee that the BCCI can access its accounts for "routine" expenditure. An worldwide team is here, and there is so much at stake.

The Supreme Court today, came down hard on the BCCI (Board of Control for Cricket in India), asking the cricket body to give an undertaking that it will implement the Lodha Committee directions unconditionally.

But with the board not agreeing to submit the undertaking, the court adjourned Thursday's hearing.

The team is scheduled to be picked at a five-star hotel in South Delhi which is less than 10 kms away from the Supreme Court where the Lodha Committee is likely to argue that the "appointment of the new selection panel was not a routine affair" at BCCI's recent AGM.

However, with this clarification from Justice Lodha, the New Zealand tour which had been thrown in doubt, will continue.

The Supreme Court told BCCI, "People want money from you (BCCI); You say they don't want to reform; Stop giving funds to such state bodies".

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The panel, headed by Lodha, ordered banks to halt the disbursements after the BCCI ignored some of the panel's recommendations for reforming the world's richest board, which has been criticized for a perceived lack of transparency.

The BCCI has been in an ongoing battle with Indian courts following the release of the Lodha committee report earlier this year.

Meanwhile, another senior member of BCCI slammed Lodha Committee for taking actions like this.

Another point of dispute between the Lodha panel recommendations and the BCCI is playing of next year's Indian Premier League (IPL) and Champions Trophy.

The cricket board chief also alleged inconsistency in the Lodha Committee directives. One can not, however, ignore the fact that pursuant to your email to us cc'd to them they took whatever decisions they had to. "Any violation of this direction will be placed before the Hon'ble Supreme Court for appropriate directions".

"They [Lodha panel] are raising questions over money that belongs to the BCCI and is being distributed to its member associations under its rules and regulations".

"This has been clarified in express terms to the banks concerned, so that cricket and the public are not made to pay for the actions of the BCCI governors".