The Lodha Committee will decide the punishment for Gurunath Meiyappan and CSK.

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BCCI sources tell CNN-IBN that there could be two new IPL franchises, it's being considered. Sources also say that two new franchises could fetch BCCI as much as $100 million.

The committee still has to further investigate on the role of IPL COO Sundar Raman and come up with recommendations for strealining the processes of the BCCI. If today's verdict is anything to go by, Sundar Raman could be in for some heavy sanctions as well.

Just to reiterate, the Justice Lodha committee is only partially done with their reponsiblities in investigating the IPL scandal. Which is to determine the quantum of punishment for Meiyappan, Kundra, CSK and RR.

N. Srinivasan, ICC Chairman to CNN-IBN : "Don't want to speak on this issue, I am not associated with CSK. It has nothing to do with me, why should I step down?"

Sources tell India-Today that estranged franchises - Pune, Kochi - could be brought back in to the IPL or look into possibly adding two new teams.

A senior BCCI functionary and IPL Governing Council member: "We were having some informal discussions once the verdict was announced. An emergent meeting is on the cards where the members will be apprised of the situation and the road ahead will be only chalked out after our legal team goes through entire contents of the copy of the verdict,"

BCCI have indeed had a meeting about the IPL verdict today to discuss fresh auctions, new team bidding, de-merger

But for now, goodbye from us here at Firstpost. For lovers of cricket, this will indeed be a good night.

So, that brings us to an end of a marvellously eventful - and perhaps, just perhaps - an historic day in Indian cricket. There is surely a lot more that will unravel in the next few days and we'll bring you the latest as it happens.

Eventually only Delhi will be left in IPL and it'll still come fifth: Top Twitter reactions on IPL Verdict - Firstpost

Do read the twitter reaction copy to the Lodha committee verdict. Some gems in there..

Meanwhile, in actual cricket that was played today, India have thumped Zimbabwe to complete a 3-0 whitewash...

IPL COO Sundar Raman: I will wait till the final report from Lodha panel before making any comments

Shailendra Singh, MD of Percept, to India Today: The IPL brand is completely hit today. The biggest problem is the lack of accountability in BCCI, this whole scam is anti-national.

Gopal Jain, Senior Lawyer (SC) to India Today: Nobody can stop the two teams from appealing, but they will have a very weak case. The independent committee gave its verdict based on BCCI constitutional violations.

Aryama Sundaram, Senior Lawyer (Counsel to BCCI): No stigma attached to players. They are free to join any other team. (Earlier to India Today)

We finally have the full statement of Justice Lodha Committee's verdict. Take a read. Some of the details are fascinating.

But for now, goodbye from us here at Firstpost. For lovers of cricket, this will indeed be a good night.

So, that brings us to an end of a marvellously eventful - and perhaps, just perhaps - an historic day in Indian cricket. There is surely a lot more that will unravel in the next few days and we'll bring you the latest as it happens.

New Delhi: The Supreme Court appointed Justice Lodha Committee is all set to render its verdict and announce the quantum of punishment for Gurunath Meiyappan and Raj Kundra and their respective Indian Premier League (IPL) franchises vis-a-vis the spot fixing and betting scandal that rocked the Twenty20 tournament in 2013.

The Lodha Committee will decide the punishment for Gurunath Meiyappan and CSK.

Chennai Super Kings (CSK) team official Meiyappan and Rajasthan Royals co-owner Kundra were found guilty of betting in the 2013 edition of the Twenty20 cricket tournament.

In a press release, the Committee said: “The verdict of the Justice Lodha Committee is to be rendered on Tuesday 14th July at Silver Oak-II in the India Habitat Centre, Lodhi Road. This will be at 1:00 pm.”

The Supreme Court on 22 January had set up the committee comprising former Chief Justice of India R.M. Lodha, former Justice Ashok Bhan and former Justice R. Raveendran to determine appropriate punishments for Meiyappan, Kundra and their respective franchises.

In March, the panel had also issued showcause notices to Meiyappan and Kundra seeking their reply on the quantum of punishment.

Meiyappan is the son-in-law of former Board of Control for Cricket in India (BCCI) president and current International Cricket Council (ICC) chairman N. Srinivasan.