The other BCCI office bearers, who were elected unanimously include secretary Jay Shah, Ashish Shelar (treasurer), Rajeev Shukla (vice-president) and Devajit Saikia (joint secretary). Outgoing treasurer Arun Dhumal will be the new IPL chairman as Birjesh Patel will turn 70 next month.
Binny replaced former India captain Sourav Ganguly, whose three-year tenure as the board chief came to end. Ganguly will now contest for the Cricket Association of Bengal top post.
"The members of the General Body appreciated the efforts of the outgoing office bearers, IPL Governing Council Chairman and members, and Councillors for the work undertaken in their term," said the BCCI in a statement.
The election of the new set of office-bearers was a formality as all were elected unapposed.
The right-arm medium pacer who was a handy batter down the order, is most remembered for his performance in the 1983 World Cup.
With 18 wickets, Binny ended up as highest wicket-taker of the tournament and played a pivotal role in the Kapil Dev-led Indian side lifting their maiden world title.
The next ICC chairman will be elected during the board meeting in Melbourne next month."As far as India's representative to the ICC is concerned, it will be decided by the office-bearers.