CBI sources said the investigation is likely to be opened this week.
However, they refused to divulge whether a preliminary enquiry will be registered or if the agency will directly file a regular case in connection with the alleged misappropriation of funds.
The sources said that the agency has studied the order and action is likely to be initiated soon after the case was handed over to CBI by a Division Bench of Jammu and Kashmir High Court.
The bench comprising Chief Justice N Paul Vasanthakumar and Justice Bansi Lal Bhat had pronounced the order on September 3 on a PIL filed by two cricketers -- Majid Yaqoob Dar and Nissar Ahmad Khan -- into the alleged scam in the J-K Cricket Association (JKCA) that had surfaced in 2012.
The alleged scam was being investigated by a special team of police, which had failed to conclude its probe after nearly three years.
"Our only doubt is whether the crime branch can go to BCCI (Board of Control for Cricket in India) from where funds are flowing and make investigation there (BCCI headquarters, Mumbai) or some central agency is to be involved," the bench had observed during the last hearing.
The Abdullah-led faction has challenged that election in court.
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