"If permitted, we will file a criminal case against them," said Srinivasan on being asked whether the BCCI would file a case against the arrested players.
"The person who is hurting the most is me. We are hurting like anything...No punishment is too little for them," Srinivasan told Karan Thapar in 'Devil's Advocate' programme on CNN-IBN channel.
A special cell of the Delhi police arrested India pacer S Sreesanth and his Rajasthan Royals teammates -- Ajit Chandila and Ankeet Chavan -- for indulging in spot-fixing in at least three IPL matches as per arrangements with bookies who have underworld connections abroad.
Facing criticism for not keeping a check on the menace of fixing despite warnings from various quarters, the defiant BCCI chief insisted that it is the greed of individual players that has created the ongoing crisis.
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"IPL has not let down people, it is the dirty cricketers who have let down people. We feel bad that such a thing has happened. But I don't have to personally apologise as long as people can see that we are acting against the problem," he said.
Srinivasan defended the league which, according to some experts of the game, has created fertile ground for fixing and manipulation.