India was checkmated by former BCCI boss Shashank Manohra, who now helms the ICC as its first independent Chairman.
The BCCI was thrashed 1-9 when representatives of all other member nations, except India's Amitabh Chaudhary, voted in favour of a change in the governance structure.
Their opposition to change of the revenue model was also rejected 8-2 by the ICC board with Chaudhary only finding support from Sri Lanka Cricket's Thilanga Sumathipala.
The bigger issue was the contentious revenue model, which is set to bring India's share down to half from USD 570 million. Manohar has advocated a more equitable distribution from the earlier 'Big Three' Model where India, Australia and England were the primary earners.
"Yes, the votings are over. It was 8-2 in favour of revamped revenue model and 9-1 in favour of constitutional changes," a senior BCCI functionary present in Dubai told PTI today.
It was learnt that since BCCI outrightly rejected the additional USD 100 million pay-out in revenue, it was once again given the original option of USD 290 million which is a USD 280 million cut from the USD 570 million India had been getting till last year.
It is also a sort of embarrassment for the Committee of Administrators (COA) as it was dealing with a lot of member nations and was extremely confident of pulling it in India's favour.
The heavy defeat indicates that the COA failed to read the minds of the likes of Nazmul Hasan Papon, David Peever, Haroon Lorgat, all of whom came to India to discuss the changes.
"Now at the SGM, there were only two resolutions passed. Our representative had two mandates. Propose for deferment of the decision which was rejected. And the next option was voting against during a floor Test.
"Our aim was to protect India's interest. Our tone was extremely conciliatory at the meeting for the best interest of the game. But what was shocking was Mr Manohar's stance," the official claimed.
"As of now the joint secretary will go back and an emergent SGM will be called. He will then apprise the General Body about the developments and an appropriate decision will be taken."
The official said that BCCI still does not consider it as a setback as it is "the vendetta of one man (Manohar)".
"The ICC is yet to tell us what is the basis on which a nation like Singapore stands to gain more. What exactly are the grounds? Can they explain how are they trying to cut down the Operational Costs of ICC which is USD 160 million?" he questioned.
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