The powerful Board of Control for Cricket in India (BCCI) has already missed the agreed April 25 deadline for naming their squad for the eight-nation event beginning in England and Wales on June 1.
The other seven nations have named their squads but India are unlikely to face any sanction from the International Cricket Council (ICC) under the rules of the 50-over tournament.
India's reluctance stems from their long-running opposition to changes in the financial and governance structure of the ICC which would reduce their influence and earnings along with the other members of the so-called "big three" Australia and England.
The ICC board meeting in Dubai on Wednesday voted in favour of the new financial model despite the BCCI — the world's richest cricket board — voting against.
Also Read: BCCI's Share Cut Down Drastically in the New ICC Revenue Model
The board also voted in favour of a new constitution which will now be put before the ICC Full Council for approval.
The dispute has raised speculation in India that the cricket-mad nation could pull out the 50-over Champions Trophy tournament, an event they won in 2013, an option the BCCI was not ruling out.
"It is too early to make predictions since the event is more than a month away, but nothing can be ruled out. Let's wait and watch," a senior BCCI board said.
"We can still name the team, say even in a week or two, as we have a squad in mind and it's just about putting a seal on it. And I am sure it will be accepted by the ICC."
Under the ICC shake-up, India stands to earn $277 million less in revenue over the next eight years, the global cricket board said in a statement.
First Published: April 27, 2017, 2:44 PM IST