The High Court also gave the BCCI the freedom to engage any producer for the purpose of live feed except Zee Telefilms Ltd and ESPN Star Sports.
The Madras HC will pass orders for interim arrangements for telecasting the India-Pakistan series on Thursday.
Batting maestro Sachin Tendulkar and former England opener Geoffrey Boycott will provide the cutting edge for the ESPN-STAR Sports programme.
Eleven lucky Indians will get an opportunity to watch a match as part of ESPN Star Sports' "Gyarah Hindustani" contest.
The deal was clinched after a meeting with top BCCI officials where all the bidders were present.
The Board told the Bombay high court its tender with Zee Telefilms is not condluded, following which ESPN-Star Sports withdrew its petition.
The BCCI Working Committee decided to maintain status quo on the issue of telecast rights.
The public broadcaster has ensured Doordarshan gets the feed for all ODIs by signing agreements the top contenders for BCCI's telecast rights.
The two sports broadcasters are hoping to win the telecast rights for the Asia Cup and and international matches played in India.
Commenting on ESPN-Star Sports' demand, it said there is no question of providing special match highlights to any broadcaster.
The private sports broadcaster is taking a stand contrary to that of ESPN-Star Sports and Ten Sports.
BCCI said the High Court litigation would have taken a long time and therefore in the interest of the game it decided to cancel the contract awarded to Zee.
It said it may do so incase the legal telecast row between ESPN-Star Sports and Zee Telefilms Ltd is not resolved soon.
The entertainment channel said ESPN-STAR Sports failed to satisfy the consortium criteria as mentioned in BCCI's tender bid.
The Bombay high court asked the BCCI not to entertain anyone other than Zee Telefilms Ltd and ESPN-Star Sports Ltd for the telecast rights' contract.
The working committee will meet in Kolkata on September 16 to discuss the vexed issue of television rights.
The television channel said its offer is aimed towards development of domestic cricket.
The Pakistan bowling great preferred devoting his time to his job as commentator.\n\n
As per the proposed format, Rs 7.1 million will be on offer in two divisions of the league, expected to get underway in September.
Rupert Murdoch's Star group have bagged the broadcast rights for events to be held during an eight-year cycle after next year's World Cup, the governing body said on Sunday.
International Cricket Council Chief Executive Manu Sawhney has been sent on 'leave' after his conduct came under the scanner during an internal investigation by audit firm PricewaterhouseCoopers and may resign before his term ends.
'It is best Sidhu shuns his role as Kapil Sharma's Paaji and instead concentrates on serving the people of Punjab,' says Sudhir Bisht.