According to media reports, a specially convened World Cup contracts committee of the ICC agreed by teleconference at the weekend to clear the way for India's participation in the competition, which begins in South Africa on February 9.
It will accept India's refusal to sign up to its World Cup sponsorship rules in their entirety in return for a reimbursement from their board of any future claims for compensation arising from that.
The media quoted source affirmed: "The ICC World Cup contracts board has decided to go along this route in the hope that it can finally end the dispute with India, clearing the way for the Indian team to take part in the World Cup.
"That is the prime objective and you can view this as a large olive branch from the ICC to the BCCI."
India's top players, backed by their board, had refused to accept a suspension of their individual sponsorships just before and during the competition, arguing that the ICC had no right to sell their image rights.
Media sources close to the International Cricket Council's World Cup sponsorship contract negotiations with the Board of Control for Cricket in India (BCCI) have suggested that the governing body has offered a 'large olive branch' in a bid to resolve the row.
