Lalit Modi has issued legal proceedings against Chris Cairns to claw back $4.9 million in damages and costs.
Mr Modi, the former head of the Indian Premier League, has also applied to the High Court in London to have the libel verdict won by Cairns in 2012 to be set aside on the grounds of fraud.
In an email to the Herald, Modi's lawyer, Rajesh Vyakarnam, said: "Mr Modi has issued proceedings to set aside the 2012 libel judgment on the ground of fraud and is claiming the return of all damages and costs paid which are in excess of £2.4m.
"Mr Modi is still bound by the injunction awarded by Justice Bean and does not wish to prejudice the [Crown Prosecution Service's] case against Mr Cairns or Mr Fitch-Holland. He will therefore not make any further comments at this time."
Cairns was awarded $183,000 in damages after successfully suing Modi for libel for accusing him of involvement in corruption while playing in the now defunct Indian Cricket League in 2008.