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An official said PCB has filed a complaint with ICC for not including its COO Sumair Ahmed for the closing ceremony.
Jay Shah had also skipped the curtain-raiser event for the Champions Trophy in Lahore.
The Indian cricket team will not visit Pakistan for the Champions Trophy, instead play their matches in Dubai.
Cricket is set to return to Olympics in the 2028 Los Angeles Games after a gap of 128 years.
Shah will leave his current position as BCCI secretary.
Shah seems to have received support from Australia and England, the Australian tabloid reported.
Wadia and SRK had a heated debate on the issue of whether to have a mega auction or not.
As many as 117 athletes will represent India at the Paris Olympics. There will also be 140-strong support staff, making it a 257-member contingent.
The BCCI's decision has come following emotional appeals for support from ex-captain Kapil Dev and former player Sandeep Patil.
The 37-year-old Rohit, who became the third Indian captain after legendary Kapil Dev and Mahendra Singh Dhoni to win a global trophy, has announced his retirement from the T20 format.
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