A bench of Chief Justice N V Ramana and Justice Manmohan has issued notice to the Sports Ministry, Sports Authority of India (SAI) and Board of Cricket Control in India (BCCI) on the petition.
The PIL has alleged that politicians were misusing crores of rupees of government funds on "publicity stunts" which highlight achievements of sportspersons.
Contending that the misuse of funds affects a large number of sportsperson, the plea said, "The government funds are being misused for personal gains through other channels in the name of sports, even though expenses are being shown under different heads of account.
It also wanted the government to take control of BCCI by bringing the game under its purview.
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According to the plea, the Ministry of Sports and Youth Affairs should immediately take charge of BCCI by establishing a monitoring and regulatory agency to control functioning of the cricket body and similar autonomous organisations.
The high court has fixed March 12, 2014 for further hearing of the matter.
The petitioner alleged that various authorities have "no desire" to protect rights of sportspersons and their abuse continues.
"...The authorities are not utilising the fund in a proper way due to which large number of sportspersons are getting affected," he said.