Speaking to IANS, sources in the know of developments confirmed that Verma -- who was earlier the secretary of the Uttarakhand Cricket Association -- has sent his resignation letter to the board.
An official of one of the state associations said that Verma's decision once again highlighted issues with the Lodha panel's report.
"This has exposed one of the many impracticalities of the Lodha report. The vice president's tenure is to be counted as the tenure of an office bearer and yet, he has no real authority than to wait for the president to be incapacitated," the official said.
Verma was made the vice president of the board on October 23 last year while Sourav Ganguly was named BCCI President, Jay Shah became Secretary, Jayesh George was appointed Joint Secretary and Brijesh Patel was named IPL Chairman.
It was believed to be a close call between Ganguly and Patel with meetings and counter meetings ruling the roost as the affiliated units of the BCCI, along with the bigwigs of the board had numerous meetings before deciding on the names of the office bearers.