It is learnt that the International Cricket Council (ICC) is looking out for options of the nations in the similar time zone to host the tournament, which was last hosted by England previous year.
It is learned that the governing bodies get tax exemptions from the host government for every major sporting tournament, but the ICC hasn't got any dispensation from the Indian government so far.
The world body, however, said it will continue to have dialogue with the Indian government, with the help of the BCCI.
Indian government has not approved a tax exemption to the ICC that could mean revenue losses of at least $100 million for the worldwide cricketing body.
In what could be a big blow to BCCI and to fans all over the country, the ICC Champions Trophy, 2021 and ICC World Cup, 2023, both, which are planned to be held in India, could be moved out of the country.
This means that India could lose the tournament's hosting rights to neighbouring countries such as Sri Lanka or Bangladesh. Mirrorhas learnt that the ICC, not having got the exemption from the Government of India for the 2016 World Twenty20, is hoping to recover the money from the BCCI.
The ICC board meeting which was also attended by BCCI acting secretary Amitabh Choudhary, has been stung by the experiences of the 2016 World T20 (hosted by India), for which tax exemption has not yet been approved, due to which the ICC has suffered a revenue shortfall of $20-30 million.
Additionally, the ICC Board was provided with an update on the ongoing suspension of Nepal.
The ICC Board also received an update on progress regarding the establishment of a National Governing Body in the US following the expulsion of USACA in June 2017. It is envisaged that USA Cricket will subsequently be in a position to apply to become an Associate Member at the ICC Annual Conference.