The composition of India's team for next week's Champions Trophy tournament is again in doubt.

The Board of Control (BCCI) has refused to accept an agreement reached on Friday between their leading players and the International Cricket Council, which appeared to have resolved a contracts dispute.

BCCI officials fear that the compromise over image rights and sponsorship deals could lead to the ICC seeking compensation from them.

"I am not willing to expose India to financial liability for a future claim by the ICC or its sponsors," said president Jagmohan Dalmiya.

"The ICC is not willing to give us an undertaking that the Indian Board will not be liable to any future claim if the players accept the ICC's re-negotiated contract."

He added that only those players who sign the original ICC contract by 2.00pm Indian time on Monday will play in the tournament.

In return, the Board will pay them for any money they lose as a result.

"I am prepared to give the players a blank cheque. Any loss they suffer will be paid by us," Dalmiya added.

"The selection committee will meet in Calcutta on September 9 to pick the best available team."

India's top players, currently on tour in England, had threatened to boycott the 12-nation event in Sri Lanka.

The players were unhappy at a clause in the contracts giving the ICC rights to use their images for up to six months.

They were also banned from being involved in personal endorsements from 30 days before the opening game until 30 days after the tournament concluded.

But a breakthrough was achieved after talks with ICC chief executive Malcolm Speed, by which the team accepted the sponsorship restrictions for up to 16 days after the tournament.

All the other teams would remain subject to the 30-day rule.

"The ICC met with the players and we were both happy but now we're back to square one," said player spokesman Ravi Shastri.

"The Board says it will compensate the players but they have to see that in writing."

The strength of feeling among Indian fans was underlined as effigies of Speed and ICC president Malcolm Gray were burnt outside Eden Gardens in Calcutta by members of India's Youth Congress Party earlier this week.

And former Indian captain and coach Kapil Dev accused the ICC of inflicting "mental torture" on the players.

India are currently involved in the final Test match against England at The Oval.

They battled back from a poor first day to dismiss England for 515 on Friday.