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Supreme Court-appointed special investigations team said in its report that regulators have to provide greater oversight of money laundering in stocks as well as "black money" being repatriated to the country through investments in equity derivative products.

"IPL has been marred by betting and spot-fixing scandals and involvement of huge amount of black money. As per news reports, some of the players are paid more than the payment slabs prescribed by BCCI, with a certain amount paid through legitimate means and some in black. During the IPL 2013 season, in a sport fixing scam, several cricketers were arrested for accepting money from bookies to throw away matches," the report said.

Cricket and stock markets are seen as a source of black money and money laundering, SIT pointed to the recent Supreme Court ruling involving BCCI. It has also raised the concerns over the Indian Premier League, including payments to players.

The panel has proposed a ban on cash donations towards education and religious institutions and charities and suggested that large amount transfers should be done only through account-payee cheques. In cases where jewellery is donated to charities and religious bodies, it has recommended that the name of the donor and permanent account number be obtained.

By Premji