Guys,
Here is the transcript of the stump mic submitted as evidence. Now it seems as though BCCI did wrestle ICC and Cricket australia into submission. If this is infact true... as an Indian I'm ashamed of bhajji and BCCI.

Transcript of audio picked up from the Nine Network stump microphone and used as evidence in Harbhajan's appeal:
Symonds walks up to Harbhajan at the end of an over.
Symonds: "Go and yell at your teammates .... You called me monkey again."
Matthew Hayden: "Twice. You've got a witness now champ."
Hayden approaches Harbhajan.
Hayden: "That's the last time."
Harbhajan: "No listen he started it."
Hayden: "Doesn't matter mate, it's racial vilification mate. It's a sh*t word and you know it."
Soon after, Michael Clarke approaches umpire Mark Benson.
Clarke: "It's not the first time. He done it in India and got into strife. That's the second time he's done it."
Captain Ricky Ponting walks up to Benson and gestures towards fellow umpire Steve Bucknor.
Ponting: "Go and tell him. Go and tell him straight away."

Source: The Age, Australian Newspaper

And the following is from Welcome to Rediff.com India

The New Zealand [Images] High Court Judge's task was made easier by behind-the-scene efforts by the Australian cricket board and the BCCI to find a compromise in the shape of downgrading the charge against Harbhajan from racial abuse (section 3.3 of ICC [Images] Code of Conduct) to that of using language which is offensive and of seriously insulting nature (section 2.8).

Here's the video from Channel 9
Cricket crisis resolved - ninemsn Video