India's participation in the Champions Trophy starting June 1 is in doubt following a landmark vote by the International Cricket Council (ICC) that went against the BCCI and means their share of the financial pot from global events will suffer a significant cut.
The BCCI had already missed Tuesday's deadline to submit their squad for the eight-team 50-overs tournament and according to reports a boycott is being considered by factions within the embattled governing body.
"The SGM will be held on May 7 in Delhi. The next course of action will be decided there," Choudhary told reporters on the sidelines of the Indian Premier League (IPL) game between Kolkata Knight Riders and Delhi Daredevils here.
The BCCI was thrashed 1-9 when representatives of all other member nations, except Chaudhary, voted in favour of a change in the governance structure.
The ICC board also rejected the BCCI's opposition to change of the revenue model by a 8-2 margin with Choudhary only finding support from Sri Lanka Cricket's Thilanga Sumathipala.
Choudhary said the outcome of the two-day ICC meeting in Dubai has been conveyed to the Committee of Administrators (CoA) and it will probably meet on May 5 to take the matter forward.
"The CoA has been intimated about the outcome of the Dubai meeting," he said.
Galle stadium brings good memories, says Ravichandran Ashwin
INDvsSL: KL Rahul down with fever; ruled out of 1st Test vs Sri Lanka
Rahul Dravid ruled out, Zaheer Khan decision pending on India coaching role, says CoA chief
Match Report: India vs Sri Lanka Board President's XI practice match drawn
Match Report: Kuldeep, Jadeja shine in practice tie as India end Day-1 at 135/3
Ravi Shastri, Virat Kohli stress on keeping No.1 Test spot
Captain Virat Kohli says no extra pressure after Ravi Shastri takes over as head coach
Ravi Shastri has always had a positive mindset, says Wriddhiman Saha
Virender Sehwag mum on Indian Cricket Team coach issue
Bharat Arun returns as bowling coach; no decision yet on Zaheer Khan, Rahul Dravid