MUMBAI: Indian cricket board chief Jagmohan Dalmiya left for London on Sunday where he will try to settle the release of India's World Cup guarantee money from the International Cricket Council (ICC), according to a IANS report.

The Board of Control for Cricket in India (BCCI) president had given the ICC an ultimatum to pay up last November, but so far none of the $6.5 million that India is to get has been released, said the official sources. Dalmiya is expected to put forward BCCI's case strongly at the ICC Contracts subcommittee meeting.

The BCCI said if ICC's financial arm, IDI, did not release the guarantee money with interest by November 1, it would go to the International Court of Arbitration in Laussane, Switzerland. But the board is yet to carry out its threat.

The ICC claims to have suffered losses and faced being sued by sponsors for the Indian players' breach of contract. Thus they have held back India's money because of differences over cricketers' contracts with World Cup sponsors, says IANS.

According to the BCCI, the claims of damage by the World Cup marketing agents - Global Cricket Corporation (GCC) and World Sports Nimbus (WSN) was frivolous. It said GCC-WSN had been able to sell 97-98 per cent of television slots and they have reportedly claimed damages worth $47.34 million.

BCCI would investigate the claims raised by GCC-WSN and also probe if they properly marketed the World Cup.