The Board of Control for Cricket in India (BCCI) Ethics Officer DK Jain on Tuesday asked Mayank Parikh to give up his ownership of six clubs in Mumbai or resign from his position in BCCI.

Jain remarks came as Parikh was found guilty of conflict of interest. The conflict of interest issue arises if an individual holds more than one post at the same time.

Sanjeev Gupta, who had recently resigned from Madhya Pradesh Cricket Association had earlier filed a conflict of interest complaint alleging Parikh of occupying more than one post at a single point of time.

"I am convinced that on the facts at hand, a case of conflict of interest as enshrined in the Rules is made out," DK Jain stated in an order.

"Accordingly, it will be open to the BCCI to grant an opportunity to Mr. Mayank Parikh to either himself resign from the post of the Manager, BCCI or to wind up all the Clubs in question forthwith or by taking any other steps, which shall ensure that the situation of conflict of interest is resolved to the satisfaction of the BCCI," he added.

"On the failure of Mr Mayank Parikh to take adequate steps in that regard, the BCCI may take appropriate action to ensure that this conflict of interest ceases to exist at the earliest," he further stated.

( With inputs from ANI )