DDCA president Rajat Sharma said they want to pay the 'best possible tributes' to Jaitley, who was the former president of DDCA.
"We want to make it a riveting event where we pay the best tributes possible to keep Jaitley Ji's memory alive. Anybody who is even remotely connected with cricket knows how his contributions have helped Delhi cricket and its cricketers. Naming the stadium after him will serve the cause and purpose," said Sharma in an official statement.
Sharma further stated that they want to recognise the services of Kohli whose achievements are 'mindboggling'.
"While we pay rich tributes to the departed soul of Jaitley Ji, we also want to recognise the services that our own player, Virat (Kohli), has done to bring laurels to Indian as well as Delhi cricket. Several of his achievements are mindboggling," he said.
"He is one of those rare species and the players' pavilion stand after his name at the Arun Jaitley Stadium is the just recognition for his contribution," Sharma added.
During the function, there will be an address by chief guest and Union Home Minister Amit Shah, followed by Jaitley's family members. Union Sports Minister Kiren Rijiju will also be present during the function.
Also, the entire Indian team, former international cricketers, BCCI officials and members of other state cricket associations will grace the function.
The members of the Indian team and promising cricketers from Delhi will be honoured with mementos to appreciate their contribution.