Thakur said it was unfortunate that they were not allowed to release funds to the state associations, which depend on them for money for hosting the games.
"I can't talk about whether series will go on or not but if players and associations are not paid, it raises serious at a time when the team is number one in Tests, No 2 in T20s, No 3 in ODIs. It's the most powerful Board. We have created a successful tournament like IPL. We can't run the game without money," Thakur said.
"BCCI does not take any money from outside whether it's central or state government. Banks were told not to release payments. It is unfortunate that such a situation has arisen.
Has BCCI not done anything at all these years, these questions need to be answered," Thakur fumed.
Taking an exception to the defiance of its recommendations, the Supreme Court-appointed Lodha panel had directed banks, where BCCI holds accounts, not to disburse "large" funds to the state associations, a decision taken by the Board at its Special General Meeting on September 30.
"Questions are being raised about BCCI when we have increased the Test cricketers match fee from 7 lakh to 15 lakh. Most state units are unsure how they will be able to host games in this home season. They need to decide whether they can host the games or not, with or without money," Thakur said.
However, Lodha clarified that they did not ask the banks to block the BCCI accounts.
"We have not frozen the accounts of BCCI, we have directed the BCCI to not disburse funds to the state association. Day to day affairs, routine expenditure, matches, games, that should go on. There is absolutely no prohibition," Lodha said.