Kochi: The newly-elected BCCI today said there will be a "closer scrutiny" of financial transactions of IPL teams' promoters to make the "world's biggest cricket event" a transparent affair.

A day after he was elected as BCCI Vice President, IPL governing council member T C Mathew said all efforts will be made to restore the glory of the IPL.

"We give approval only after closer scrutiny of share transfer. Who is investing more in a (IPL) team... How is its share transfer... All these factors will be taken taken into consideration," Mathew told a meet the press programme organised by the Ernakulam Press Club here.