The issue was discussed at the board's governing council meeting in April as a result of limited interest from fans and sponsors.
Shukla said there are thoughts of conducting a different tournament in its place, and that he and BCCI secretary Anurag Thakur are weighing possible options.
There have been 6 editions of the CLT20 so far pitting the top teams of various countries against each other.
India, Australia and South Africa are the primary stakeholders of the tournament, while teams from West Indies, Pakistan and Sri Lanka have been regular competitors.
