The PCB had recently sent a notice to the Indian cricket Board. In the notice, PCB has complained that it suffered loses to the tune of USD 69576405 since Indian team missed the Novemver 2014 and December 2015 series.
The BCCI is to respond within seven days of receipt of notice, sent on May 3.
The MOU, signed in 2014, was part of a deal between the two boards under which Pakistan supported the Big Three governance and financial model in the ICC.
The PCB informally had told the BCCI representatives at the recent ICC meeting of its decision to start legal proceedings against them to claim compensation.
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