Fairfax Media revealed last week that the Essel Group, which owns Asian media giant Zee Entertainment and television network Ten Sports, had registered companies in Australia, New Zealand and other international-playing countries, prompting concerns from national boards and the International Cricket Council about a plot to take on the establishment, possibly with a new global Twenty20 league.

In Australia, the company name Australian Cricket Control Pty Ltd was registered with the Australian Securities and Investment Commission.

Essel previously ran the Indian Cricket League, which ended abruptly in 2009 with more than $US2 million ($2.56 million) owed to more than 40 players including Australians, and was later the subject of corruption admissions by New Zealander Lou Vincent.

Essel recently agreed to a settlement of $US280,000 in a Mumbai court after litigation brought by 12 of the players concerning unpaid money from the 2008 and cancelled 2009 events but the rest of the players and others associated with the ICL remain out of pocket six years after the tournament folded.

Retired Australians Jason Gillespie, Michael Kasprowicz and Damien Martyn were among those to compete in the ICL. The fight for the players to be paid was led by the Federation of International Cricketers' Associations and while their chief executive, Tony Irish, believes cricketers would be wary about signing up for a body that in the past reneged on payments he said many would be tempted.

"There is always going to be interest from players in events irrespective of what history has occurred," Irish said. "Obviously there will be some reticence from players based on what has happened but I don't think you can discount the fact that players will be interested."

Irish agreed that players from outside the so-called big three of world cricket – Australia, India and England – would be more easily persuaded by a rebel approach for financial reasons. West Indies players, for instance, had a bitter dispute with the West Indies Cricket Board over payments last year, prompting them to quit a tour of India, while Sri Lankan cricketers engaged in their own contract wrangle with their board in 2013.

"International cricket and mainstream cricket have got to be on their toes to keep their players," Irish said. "But that's the case as it is anyway because players have got opportunities in approved T20 leagues around the world at the moment and a lot of players I think are looking to just go that route. So whether this event happens or doesn't happen I think the boards have got to be on their toes and realise there are other markets for players and they've got to try and make mainstream international cricket as attractive as possible."

Former Indian Premier League commissioner Lalit Modi on Monday took to Twitter to deny suggestions he was involved in the plan by Essel, which is run by Indian billionaire Subhash Chandra, but admitted he had been approached.

"I looked at the proposal when presented to me, he wrote. "But decided not for me at the moment. You never know what lies in future."

I wish @_SubhashChandra all the best in this new venture. I have nothing to do with it. But we need a rival body - http://t.co/TShcsySVXX— Lalit Kumar Modi (@LalitKModi) April 27, 2015