Indian Premier League chairman Lalit Modi on Tuesday made it clear that no global protection for Cricket Australia's sponsors would be given "under any circumstances" and set Sunday as the deadline for players to sign the contracts.

Modi said Sunday is the deadline for IPL contracts to be signed and returned, so that players can be auctioned to the eight franchisee teams next Wednesday.

Thus, Australian cricketers will have to decide whether to defy their own Board or face a three-year ban from playing in the tournament.

"They are running out of time. I am not the type that won't follow through with what I say: if the contracts are not signed and returned by Sunday the Australian players will not be allowed to take part in the IPL for three years. We are taking a list to owners on Monday," Modi said.

"Each franchisee has a US $5 million cap for their team, and the contracts are for three years; so when they bid for players at the auction they will use up all of their cap -- there will be no money to buy other players later," he was quoted as saying by the Sydney Morning Herald.

Modi, however, said Australians players would be allowed to play in the tournament without No Objection Certificates (NOCs) from their Board, a stipulation that was required of every other international player.

"We will gladly take Australian players without NOCs; we don't want to go down that path but if we will have to, we will," he said.

The Board of Control for Cricket in India had earlier said it would not accept players who do not have the permission of their respective Boards to participate in the Twenty20 tournament, to alleviate fears that some stars could quit international cricket to chase the big money on offer in the IPL.