The Supreme Court has issued notices to the BCCI and its secretary N Srinivasan on the validity of the amended rule that allowed its functionaries to hold franchise rights in IPL and other cricket tournaments. But, the Bench comprising J M Panchal and R M Lodha refrained from entertaining the plea for interim stay by former BCCI President A C Muthiah. The apex court also queried whether Srinivasan was present at the Governing Council meeting in 2008 wherein BCCI decided to award a compensation of 47 crore rupees to Srinivasan's Chennai Super Kings and the Rajasthan Royals for the cancellation of the Champions League 2008. The apex court granted four weeks to the Board and Srinivasan to file their replies. Earlier, Muthiah had approached the High Court alleging that the amendment was done to favour BCCI secretary Srinivasan, Managing Director of India Cements which owns the Chennai Super Kings and contended that the decision to exclude IPL and T-20 tournaments from the purview of the Board's regulation is illegal and opposed to public policy.