The report, prepared by a committee constituted by Goa government and submitted to the state law department for recommendations, has held Narvekar guilty for the loss of revenue and stated that "he was single handedly managing the affairs of the association."
The committee comprising GCA's former secretary Chetan Desai has tallied a total revenue loss of Rs 6-7 crore for the financial year 2011-12.
In its several recommendations, the report has suggested that GCA should find ways to recover the money from Narvekar, who is also a former vice president of the Board of Cricket Control of India (BCCI).
Narvekar, who remained GCA chairman for over a decade, was ousted by the committee members this year.
GCA recently held its elections where former vice president Vinod Fadke was chosen as its chairman.
The report also mentioned that Narvekar was called for the inquiry several times but he refused to depose before the committee.
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The report also mentioned that an advertising agency has complained that GCA had failed to refund an amount of Rs 1.18 crore, which was paid towards the advertising rights for the third one day international match between India-Australia on October 24, 2010, abandoned due to rain.
The report, prepared after taking the testimony of several people including the contractors, GCA managing committee members and others, has indicted Narvekar for misusing GCA.
One of the managing committee members told the inquiry committee that Narvekar was recruiting daily wage workers at his residence and his assembly constituency of Aldonha, and their bill was footed by the GCA.
He has also accused Narvekar of "giving lot of orders for sports and other equipment without informing the managing committee."
The wedding of Narvekar's daughter was held at GCA campus and many of the bills of the reception were paid by GCA, the report alleged, quoting a senior management committee member.