Sethi had signed the MoU with the BCCI officials in 2014 on the sidelines of an ICC meeting.
Pakistani cricket authorities have threatened to sue Board of Control for Cricket in India (BCCI) for not playing bilateral series, causing them huge financial losses.
Najam Sethi, Chairman of PCB's Executive Committee tweeted on Wednesday night that they have conveyed it to the BCCI officials on then sidelines of ICC Executive Board meeting in Dubai.
"PCB has told BCCI it is suing for compensation against BCCI's refusal to play bilateral series as per Agreement signed in 2014," he tweeted.
Sethi, who is tipped to take over as Chairman of the PCB once again, had signed the MoU with the BCCI officials in 2014 on the sidelines of an ICC meeting.
Under the MoU, Pakistan and India were to play six bilateral series between 2015 and 2023 but India so far has refused to play even one series on the grounds that it s government has not given it clearance for bilateral cricket ties with Pakistan.
The BCCI refusal has come despite Pakistan agreeing to host its home series at neutral venues including Sri Lanka.
Pakistan claims it has lost nearly USD 200 million because of India s refusal to play two home series of Pakistan.
India has not played a full bilateral series with Pakistan since 2007 and the PCB since last year has been insisting it will be pursuing all legal avenues to seek compensation from the Indian.
The first legal course it has said it will announce will be to approach the ICC disputes resolution committee.
He also announced that Giles Clarke, Chairman of the ICC s Task Force on Pakistan cricket, has reviewed the security report of ICC experts and has agreed to hold three Twenty20 matches in Pakistan.
Sethi said the matches are scheduled for end of September 2017 and a team of ICC's "top current players" will play the matches.