Srinivasan had asked the court to allow him to be reinstated as BCCI chief after the panel, headed by former judge Mukul Mudgal, cleared him of corruption charges in November.
Although the court on Thursday absolved Srinivasan of any specific wrongdoing, it struck down an IPL rule, which allowed BCCI members to own a team in the popular Twenty20 tournament.
Srinivasan, appointed International Cricket Council chief last year, has not yet commented on whether he will run for the BCCI president's post at elections in six weeks time for a second term or give up his stake in the Chennai Super Kings.
The court had barred Srinivasan from carrying out his
duties as BCCI
president, a post he
held since 2011, until it delivered its final verdict.