The chairman of the Pakistan Cricket Board Dr Nasim Ashraf on Monday dropped the defamation suit against fast bowler Shoaib Akhtar after the last named had made sensational allegations in the media against Ashraf.

Shoaib had alleged that Ashraf had demanded money from him to allow his participation in the Indian Premier League.

Akhtar had made the allegations soon after he was handed a five-year ban
by the PCB.

However, in a latest disclosure, Ahsraf acknowledged that Akhtar had tendered an apology over the allegations and hence had withdrawn his suit against the cricketer.

On Sunday the PCB temporarily suspended the ban on Akhtar for a month's period (pending a further hearing), allowing him to play in the Indian Premier League for Kolkata Knight Riders.

"I have withdrawn the defamation case as my honour was vindicated after Akhtar apologised publicly and retracted his baseless allegations," Ashraf was quoted as saying to the AFP news agency.

In the IPL, Kolkata Knight Riders have signed Akhtar for £215,000.