The cricket legend, who was the last from the rebel league to rejoin the game's official establishment, was accepted back into the BCCI when he gave a letter to Board President N Srinivasan that he had quit the defunct ICL.
The BCCI issued a media release, moments after the 1983 World Cup winning captain met Srinivasan at the Board's headquarters in Mumbai this morning.
"The BCCI has received a letter from Mr. Kapil Dev, former India captain. Mr. Kapil Dev has informed the Board that he has resigned from the Essel Sports Private Limited / ICL. He has also stated in the letter that he has always supported the BCCI, and will continue to do so in the future. The BCCI acknowledges Mr Kapil Dev's immense contribution to Indian cricket and looks forward to a fruitful association with him in the years to come," Srinivasan said.
"The BCCI will now release the one-time benefit of Rs 1.5 crore for Kapil (for playing more than 100 Tests) and he will again be eligible for monthly gratis of Rs 35,000 from the Board. His gratis arrears for the last five years will also be cleared with immediate effect," a senior BCCI official told PTI today.
Asked whether there was any apology from the cricket legend in the letter, he said "there was none and none was expected too. He had mentioned that he had quit the ICL."
Earlier, during this year's IPL when several former cricketers were handed out payments worth Rs 70 crore by the BCCI, Kapil had declared that he would not seek an amnesty.
After BCCI chief Srinivasan took personal initiative in the matter, Kapil met the former here ahead of the BCCI's working committee meeting last week.
It was learnt that Kapil had then handed over to Srinivasan a copy of his resignation from the post of executive chairman of the ICL Board, paving the way for his return today.