The SLC did not elaborate on how Karunaratne breached "several clauses" of its player agreement but said the player had pleaded guilty to all the charges levelled against him. He was also fined $5,000, the board said in a statement.
The news comes amid the backdrop of a slew of stories involving an unholy nexus between public sector banks and corrupt businessman.
Several companies are set to face CBI heat after the CVC refers BJP leader Prakash Javdekar's complaint to the agency for a probe.
French prosecutors said on Monday they had opened an inquiry into allegations of group rape by Dominique Strauss-Kahn and three friends, as part of an investigation into his ties to a suspected prostitution ring in the northern city of Lille.
Strongly condemning the incident of shoe hurling towards Rahul Gandhi in Uttarakhand, Congress on Monday suspected BJP's role in it and demanded a thorough inquiry into the episode to find out the truth.