The BCCI president-elect, N Srinivasan, has admitted that the board was not vigilant in tackling financial irregularities in the IPL under Lalit Modi's watch, according to media reports. Srinivasan, testifying before a parliamentary standing committee investigation into the IPL's finances, said that pleading ignorance of Modi's ways could not be an excuse - a significant change from the board's earlier stand on the issue.
The report, which has Srinivasan stating on record: "We were taken for a ride. I know we cannot plead before you that we did not know all this was happening. Your question would be, were you not vigilant? What did you do? I am sorry, sir, there is no defence for me. No defence in front of you. So, I am not pleading that [ignorance] at all. We just put our heads down."
It is also reported that the Board President Shashank Manohar admitted that the cheques for all IPL deals were signed by Srinivasan, the then BCCI treasurer, and subsequently MP Pandove who replaced him, and not by Modi. The Board had previously put the blame on Modi's shoulders, claiming that he had enjoyed a free hand in running the league.