With his recent appointment, Ganguly became the second Indian captain to hold the top job in BCCI once elected.
Zimbabwe will now be able to take up their place in the men's Under-19 World Cup in January and the ICC Super League later in 2020.
Jaitley was one of the longest-serving presidents of the Delhi and District Cricket Association (DDCA).
Earlier, the ICC had threatened to deduct a part of the Indian cricket board’s annual revenue share in a continuing tussle on tax exemptions for events held in India.
While the cricket's global governing body wants India's revenue to be slashed, the BCCI has decided to contact British law firm on the same.
Sri Lanka Sports Minister Harin Fernando will meet ICC chairman Shashank Manohar in New Delhi on Wednesday.
The court has termed this wrongful diversion of funds as "misuse of funds" by Directors involved in the scam.
With this decision, Zimbabwe will no longer receive ICC funding and representative teams from the country will be barred from participating at ICC events.
He will work alongside Dave Richardson, who will step down after the World Cup in July.
The Ashes series between England and Australia will be the first instance when the players will sport these jerseys.