I think you're right. This is an answer I found on the interent
"Nobody actually owns BCCI.
Although BCCI is a private body and a for-profit organization.
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till recently.
Some of the money BCCI makes is used to fund and develop cricket in India. Rest goes into BCCI's treasury.
Just a little bit might have been lost in the pockets of the top executives (All of them Indians and politicians)"
"The BCCI is an
autonomous body
registered under Tamilnadu register of society Act 1975. As it is a private body, it does not fall under the ambit of Right to Information Act (RTI).
As Supreme court stated that “In the case of Zee Telefilms Ltd and Anr vs. Union of India and Ors
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in 2005 that the Supreme Court addressed and elaborately discussed the status of BCCI as an instrument of the State as per Article 12. The Supreme Court came to the conclusion that BCCI was not an instrument of the State.” Thus exempting the BCCI from RTI Act.
Recognition has not been granted by the government. However, given that the ICC recognises the BCCI as the apex national federation responsible for promotion of cricket in India, a team selected by BCCI is considered as the Indian team. The ministry only grants the BCCI permission to participate in international events and for holding international matches in India at no cost to the government. This is subject to clearances from the ministry of external affairs from a political angle and the ministry of home affairs from the security one."