"In consideration of all the facts that are in my possession, and in consideration of all the paragraphs extracted from the Code as laid out in paragraph 2, I am convinced there has been no intentional violation of the Code by any party or Code signatory. In making my assessment, I consider the matter of the loan made by the ECB to CWI at around the time of an imminent ICC election for its new Chairperson to have been thoroughly and objectively evaluated by me, and that I have received sufficient information to complete the evaluation.

"I attest that I do not believe the loan was made or received in the context of, or in relation with the matter of the forthcoming election for a new ICC Chairperson," he stated. Not surprised by the turn of events, a former BCCI official who has worked with Manohar said that it seems Graves—set to step down as ECB Chairman on August 31—is the favourite to take over as the next ICC chief and this was just an attempt to stop the process.

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