''I recognize that I broke the confidence placed in me as West Indies captain by my overreaction during and after the fourth Test against India and I apologize to all concerned,'' Lara said in a letter to WICB here.
The skipper met the board appointed commission of inquiry, which investigated his criticism of the selectors, on July 27 and agreed to apologise for the outburst.
''I would like to thank my teammates for the progress we have made as a team over the last few months and I hope my unfortunate actions will not in any way deter our march towards further success,'' he said.
Meanwhile, the WICB said they have accepted Lara's apology, which came after board President Ken Gordon wrote a letter to the star batsman inviting him to discuss the matter with him and asking him to render an apoplogy.
''Let me admit that I empathised with the rationale that you outlined during our conversation in support of additional pace against the Indians,'' Gordon said in his letter to Lara, referring to the Windies skipper's demand for an extra pace bowler against India in last month's Test series, which was not met by the selectors.
Gordon stressed that though Lara's views as the captain of the team were always taken into consideration by the Board, they could not be the basis of every decision taken by the selection panel.
''I feel certain that our Board is fully supportive of the principle that the captain should be comfortable with the team he leads. This does not mean that he can have his way every time but it does mean that his views need to be very carefully weighed,'' he said.
The WICB President said Lara's comments had given a negative signal on the progress of cricket in the Caribbean and the star batsman should have given his views behind closed doors instead of going public with them.
''We need to send a signal that a new start is being made. That we will resolve our differences internally and present a unified front to the cricketing world. Your statement did not contribute to sending that message and that was unfortunate,'' Gordon pointed out.
Lara had criticised the selectors for not giving him the combination he wanted against the Indians and had even threatened to step down as captain if the selection panel was not altered as desired by him.
The matter was discussed at a meeting of the Board held on July 13 and a committee headed by Gordon and comprising Sir Alister Mc Intyre and Messrs Clive Lloyd and Gregory Shillingford was appointed to meet Lara to hear his version of the events which led to the controversial statements.