The Board of Control for Cricket in India (BCCI), on Thursday (June 30), clarified that VVS Laxman, who is a part of the three-member Cricket Advisory Committee, was in no position of conflict of interest after he sold all the shares he held in Tenvic Sports Education Private Limited, an Anil Kumble company.

Soon after Kumble’s appointment as coach, a report in DNA claimed that the former India batsman held 33,332 shares in the company and was entitled incentives, bonus and other benefits.

“Mr Laxman informed BCCI that he had sold his total shareholding of 5% in Tenvic Sport in the month of March 2016 and also declared that he no longer held any shareholding or any official or unofficial position in Tenvic Sports,” clarified Ajay Shirke, the BCCI secretary via a release. “This took place prior to the commencement of the operations of this Committee. Mr Laxman was therefore in no position of a conflict of interest at the time of selection of the head coach of Indian cricket team. All assumptions and conclusions to that effect are therefore erroneous.”

Kumble’s association with Tenvic Sports, a company that deals with sports and consulting, too raised a few questions, but the India coach said he’ll take the necessary steps to avoid any conflict of interest.

“We [BCCI and I] have already discussed that,” Kumble had said soon after his appointment. “Whatever needs to be done will be done before I take up this role officially. That has been discussed, and it has been clear with the BCCI as well. Something that can be easily resolved.”