A bench of justices B S Chauhan and Dipak Misra, which refused to ban IPL, however, directed the Board to take immediate step to clean up the shorter form of the game, which has been mired in the spot-fixing scandal.
It also warned the Board that cricket lovers might not take such irregularities in "quietus" and directed it to punish the errants players and teams involved in various irregularities.
"We are not talking about individual players but about irregularities. What measures are you taking? You must take all steps to stop the irregularities," it said adding that judges also watch cricket.
BCCI admitted that there have been irregularities and it has set up one-member committee to look into the issue. It said the Board is taking steps to prevent such incidents in future.
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The bench then directed the committee to submit its report within 15 days and asked the Board to bring the errant teams and players to book on the basis of the report.
"We direct that committee submit its report in 15 days and specifically point out irregularities in the matches and individual errant behaviour. The board should take immediate action against the team and the players as per rules," the bench said.