Reports said he had undergone a cataract operation on Tuesday when the court made the observation.
But sources say Srinivasan will continue to hold the post and wait for an order. The court has given the BCCI time till Thursday, when the hearing resumes, to reply to the observation.
Secretary Sanjay Patel was expected to meet Srinivasan on Tuesday. Both were unavailable for comment.
Reports said three of five vice-presidents had pressured Srinivasan to go by the observation. They were Shivlal Yadav, Ravi Sawant and Chitrak Mitra.
Srinivasan had stepped 'aside' due to pressure from the BCCI members and in the meantime, Jagmohan Dalmiya was appointed interim president. However, in September, Srinivasanwas re-elected to the post of President.
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