The BCCI SGM is one of the most important in recent times.Reuters

The Board of Control for Cricket in India (BCCI) on Saturday served a showcase notice to Goa Cricket Association (GCA) senior officials Chetan Desai and Vinod Phadke for alleged fraud. The two, along with GCA treasurer Akbar Mulla, were arrested by the Economic Offence Cell (EOC) of the Goa Police on Wednesday for alleged misappropriation of money and forging signatures.

The BCCI have also given them a time of 15 days to give a written reply to the showcause notice and until the investigation on their alleged wrongdoings goes on, the duo remains suspended from the Indian cricket board.

Desai is the current chairman of the BCCI Marketing Committee as well as the GCA president, while Phadke is the current GCA secretary. He also served as the manager of the India cricket team during an ODI series against South Africa in 2015.

"It has been widely reported in the media that the President, Hon. Secretary and Hon. Treasurer of the Goa Cricket Association have been charged under various sections of the Indian Penal Code for serious allegations in connection with misappropriation of large sums of money of the Goa Cricket Association," BCCI Secretary Ajay Shirke said in a statement, as quoted by the Press Trust of India.

"Two of the above members also work as functionaries of the BCCI representing their state cricket association on certain important committees of the BCCI.

"Given the serious nature of the allegations, the BCCI has decided to investigate the said allegations as well and has accordingly issued show cause notices to the President and the Hon. Secretary of the Goa Cricket Association, under the Memorandum and Rules and Regulations of the BCCI ('Rules'), as to why action should not be taken against them as per the rules of BCCI," the statement added.

Phadke, Desai and Mulla had reportedly illegally siphoned money and encashed a BCCI cheque worth Rs. 2.87 crore, which was the subsidy from the Indian cricket board's TV rights in 2006.