It is believed that as many as four of the ten franchises objected to the left-hander's inclusion in Team Kochi.
The latest move is further humiliation for Ganguly, who was not picked in the IPL Players' Auction last month.
The IPL's governing council had a meeting in Mumbai on Friday after Kochi had sought to the BCCI's permission to buy Ganguly at his base price of $400,000.
The IPL, in a letter to all the teams, had said a request was received from franchises that subject to them having sufficient balance on the salary cap to pay at least the reserve price of the relevant player, they should have the opportunity to sign unsold Indian players from the auction.
IPL's Chief Operating Officer Sundar Raman further said "the auction regulations were clear that players not taken in the auction could only play in IPL 2011 as replacement players".
"Before the Governing Council deliberates on this issue, I wanted to get your view on this issue and if your franchise is agreeable to : permit franchise to buy any unsold Indian players from the auction; The player can be bought only at his reserve price".
Raman had asked franchisees to send their views by Thursday night failing which it would be considered that they were not opposed to the request.