Parekh will be a special invitee during the IPL governing council meeting as his vast expertise in financial affairs will enable Gavaskar to ensure smooth functioning of IPL affairs for the next two months.
In a BCCI media release, Parekh has been dubbed as "unofficial crisis consultant of the Government. His role as Special Director on the Satyam Board in 2009, to revive the company and restore the confidence in the Indian IT industry, was greatly acknowledged."
"Mr Parekh has always been willing to share his ideas and experience to formulate reform policies across sectors. This, at times, has also meant advising the Government to take hard decisions," the BCCI press release said.
"It is this quality of being a trouble-shooter that has made him a guiding force and an active member of various high-powered Economic Groups, Government-appointed Advisory Committees and Task Forces," it said.
Former India opener Gavaskar was appointed the interim president of the BCCI-IPL following a direction from Supreme Court as N Srinivasan was asked to step aside from his post pending the completion of the IPL spot-fixing enquiry. Senior vice president Shivlal Yadav was made interim President for non-IPL matters.
Gavaskar expressed his delight at the development as Parekh took up his offer.
"I am delighted that Deepak has accepted my invitation to come on board as a special advisor and special invitee to the Indian Premier League Governing Council. It is apt that an individual of the calibre of Mr Parekh will be joining the BCCI-IPL's leadership group."
According to Gavaskar, Parekh's "diverse combination of skills and experience will result in a well-rounded senior management team at the IPL - one that will set the direction for a better and bigger league."
The chairman of the IPL Governing Council Ranjib Biswal is also hopeful that Parekh's experience will help them deliver a "memorable IPL".
Parekh on his part stressed on his endeavour to strengthen the IPL with his inputs in a new role.
"I am excited to be invited to be a part of the IPL. I look forward to fulfilling this challenging new role on the IPL's senior leadership team as an advisor to Mr. Gavaskar, as we look to strengthen the Indian Premier League."
Parekh has been honoured with several awards including the prestigious Padma Bhushan in 2006 and 'Knight in the Order of the Legion of Honour'-- one of the highest distinctions conferred by the French Republic, in 2010.
He was also the first international recipient of the Institute of Chartered Accountants in England and Wales' Outstanding Achievement Award, in 2010.
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