N Srinivasan is still hopeful of contesting the BCCI presidential elections that is scheduled to take place within six weeks. This, claim sources who spoke to The Sunday Express, will be done by selling off his stake in the Chennai Super Kings franchise within the next two weeks, a move that he believes will make him eligible for the BCCI presidentship.

With BCCI secretary Sanjay Patel by his side, Srinivasan teleconferenced with his allies in the Indian cricket board on Saturday. A source in the meeting said: “He has been trying to convince everyone he did nothing wrong. He will sell off his stakes (in CSK) within the next two weeks and will file an affidavit in the court, declaring that there’s no longer any conflict of interest.”

Apart from Patel, TC Mathew, Anirudh Chaudhary, Amitabh Chaudhary and Rajeev Shukla attended the conference. It is understood that Srinivasan told his fellow members that he has had the approval of his lawyers. It is also learnt that talks are on with other firms for the sale. Srinivasan has also informed the IPL governing council about CSK’s demerger from India Cements. The process started in September last year.

But it is unlikely to be a smooth transition for Srinivasan, mainly due to the Supreme Court verdict, which said: “The argument that Mr Srinivasan owns only 0.14% equity in ICL is of no avail if not totally misleading when we find from the record that his family directly and/or indirectly holds 29.23% of the equity in the India Cements Limited with Mr Srinivasan his wife and daughter as directors on the Board of that company.”

Besides that, the SC judgement has also ensured that unless the three-member committee, headed by former Chief Justice of India RM Lodha, makes a final decision, those with financial interests will not be eligible to be a part of the BCCI election.

“We make it clear that the disqualification for contesting elections applicable to those who are holding any commercial interest in BCCI events shall hold good and continue till such time the person concerned holds such commercial interest or till the Committee considers and awards suitable punishment to those liable for the same; whichever is later,” the apex court added.

These statements have ensured that not everyone in the BCCI share Srinivasan’s optimism. A BCCI vice-president said: “Offloading company shares takes time. More importantly, this segment of the court order makes him almost impossible to return this term.”

Meanwhile, the IPL governing council meeting, schedule on February 3, has been postponed. Sanjay Patel has informed the governing council members that it could be replaced with a working committee meeting instead.