NEW DELHI: The BCCI on Sunday cleared the Indian cricket team’s participation in next month’s Champions Trophy, ending a fortnight-long suspense with a massive climbdown from their initial aggressive stance.

The Board made the decision at a Special General Meeting, where it was also announced that the squad for the eight-team event, starting June 1, will be picked on Monday.

It was decided that no legal recourse will be taken against the ICC as per the diktat of the Committee Of Administrators.

The SGM completely toed the CoA instruction of sending the team and not serving any notice to global body, which has nearly halved the BCCI’s revenue share and cut down on its executive powers by revamping the controversial ‘Big Three’ administrative structure.

It was a setback for the ousted N Srinivasan faction which was keen to take an aggressive stand. Srinivasan, in fact, joined the discussions via Skype to air his views but didn’t take a confrontational stand.

“The outcome of the meeting has been positive. India will participate in the Champions Trophy. There is no pulling out. Tomorrow the squad will be sent to the ICC,” IPL governing council member Rajeev Shukla told reporters after the meeting.

“The honorary secretary (Amitabh Chaudhary) has been authorised to renegotiate with ICC as far as the financial model is concerned. There will be no binding on him.

“Our approach should be that of trying to resolve through dialogue rather than being confrontational. There are five six issues regarding revenue and governance model which need to be sorted,” Shukla said.