While most of them welcomed the peace formula as a step taken in the right direction, there were a few who slammed the entire peace exercise as an "eyewash".
Former India skipper Dilip Vengsarkar described the compromise worked out by the BCCI yesterday as a "good decision".
"It's a good decision taken by the Board. But it would be difficult for the two to sink their differences. However, they must strive to do so for the good of Indian cricket," said the Chairman of the Board's Talent Resource Development Wing.
However, former Board Secretary Jaywant Lele termed the whole affair as a "drama" and the outcome as an eyewash when contacted in his hometown, Vadodara.
"What compromise? Who are they (Chappell and Ganguly) to compromise. It's the selectors' job to choose the captain."
"Tell me, is Chappell a fool to write a six-page e-mail? And, what has the Board refuted from among the issues he raised except for the one concerning the fitness of Ganguly, that he is faking injuries."
"What about the other charges like he believes in the divide and rule policy in the team and other such issues. There's no doubt if anyone needs to go it's Ganguly."
"If my reading is right Chappell must have told the review committee in clear terms what needs to be done for him to stay on. If it doesn't happened he will surely quit. And we would find it difficult to find another suitable candidate for the job," said Lele.
Another former cricketer and administrator T A Sekhar said "it is good that the issue was sorted out in the interest of Indian cricket. This total episode should not be in their mind. They should look forward, showing professionalism in their respective jobs."
W V Raman was of the view that the compromise was in the interest of Indian cricket.
"I think this proposal is the best formula in the interest of India cricket. Personally I feel that they should be clear in their mind treating what has happened as a bad dream and show responsibility in doing that. Their outlook now should be to take the Indian cricket forward."
BCCI Joint Secretary Gautam Dasgupta said "for the betterment of Indian cricket, both of them (Ganguly and Chappell) have promised to work together. This is the best possible solution."
"This is the only feasible solution. The matter had to be resolved this way," he said.
Former Test cricketer Saba Karim also felt that it was a sensible decision on the part of the Cricket Board.
"Now, both the coach and the captain have to coordinate well to ensure better performance from Team India. Both of them need to put their minds together," he said.
"Firstly, the murkiness in the dressing room has to be done away with. Secondly, they should restore the trust and mutual respect between them," the former wicketkeeper said.
Former coach Anshuman Gaekwad said the review committee had taken a sensible decision.
"BCCI appointed Chappell because they thought he could take Indian cricket forward while Ganguly has been the most successful captain. The compromise was necessary as both have a role to play for the development of Indian cricket."
Former Test cricketer Arun Lal said "this is the best way forward. There was no other choice before the Board".
Asked whether the truce would last, he said "Chappell and Sourav are both mature people. They have to make it work".
Expressing confidence that the bitterness of the last few days would not leave any bad taste in the mouth, Lal said "If Leander Paes and Mahesh Bhupathi can team up and play so well despite not being on the best of terms at a personal level, then why can't Ganguly and Chappell do the same?"
Avoiding any direct comment on Chappell's allegation on Sourav, Lal said "One may not agree with him, but he is trying to do a fair job."
Former player Atul Wassan was, however, unhappy with the way BCCI handled the issue.
"I am not satisfied with the way things were handled by BCCI. It is just a stop-gap, short term solution," he said.
"Well, they could have found out a respectable way for Ganguly's exit. They should have made Rahul Dravid as the captain for the next series and keep Ganguly as a batsman in the team. This way they could have kept the door open for Ganguly and given him a chance to perform as a player."