Offices of a number of Indian Premier League (IPL) franchises were raided by police, Indian media said on Wednesday, amid the growing IPL corruption saga.
Punjab, Kolkata, Chennai and Rajasthan franchises were reportedly raided by police.
It was also reported that India’s Enforcement Directorate (ED) will inquire into the ‘unauthorised transfer’ of foreign funds in the IPL, after registering a case against the cash-rich cricket league.
A report in Indian daily The Hindu quotes ED officials as saying that funds from abroad, without the permission of RBI, might have trickled in to the IPL.
Meanwhile, vice president of the Board of Control for Cricket in India (BCCI) Ravi Shukla said that the BCCI’s governing council meeting will take decision on the on-going IPL saga while keeping in mind the image and welfare of the board.
Modi wants to postpone the meeting of the governing council.
The meeting is scheduled for April 26 after uproar by politicians and lawmakers prompted the Indian government to initiate an investigation. The investigation will primarily be concentrated into the financing of the IPL after allegations of corruption emerged recently.
PTI quoted unidentified sources as saying that Modi has told the BCCI that he would not be able to attend Monday's meeting as he needed more time to prepare himself to respond to any questions relating to the funding and the ownership pattern of the eight franchises.
Modi is facing a probe into accusations of money laundering but has received support from owners of the IPL teams.
Bollywood actress Shilpa Shetty, who is the co-owner of the Rajasthan team said Modi should not be judged guilty until proven.
Shetty said that the media and politicians should refrain from jumping to conclusions about Modi without proof.
Showing posts with label lalit modi. Show all posts
Showing posts with label lalit modi. Show all posts
Thursday, April 22, 2010
Tuesday, April 20, 2010
lalit modi Refuses to Quit
Speaking to reporters at the Mumbai airport on Tuesday, Modi stated that there was no need for him to step down. Earlier in the day, former BCCI chief Sharad Pawar asked Shashank Manohar that Lalit Modi has to go after Finance Minister Pranab Mukherjee and Home Minister Chidambaram met him at his residence.
Pawar said that a decision on Modi will be taken by the IPL governing council.
Saturday, April 17, 2010
latest cricket news(IPL will cooperate in tax issues:modi)
IPL Commissioner Lalit Modi on Thursday said he will fully cooperate with the income tax officials inquiring into the details of the competing teams.
“There is an inquiry, it is not a raid. The income tax officials are possibly looking for the details of the tender (for Kochi team). We will extend all possible cooperation to them,” IPL commissioner Lalit Modi said.
Immediately after the income tax officials visited the offices of BCCI-IPL at Wankhede stadium, Modi rushed to the headquarters to meet them. There were reports, earlier this week, that income tax and Enforcement Directorate could seek the details of the IPL franchise, particularly Kochi in the face of a major controversy involving some of the promoters.
Modi had divulged names of the Kochi franchise while alleging that Minister of State for External Affairs, Shashi Tharoor had asked him not to reveal the names of the promoters which included Sunanda Pushkar, a close friend of his.
Earlier on Thursday morning, a special team of the Income Tax Department visited the headquarters of the cash-rich T20 Indian Premiere League (IPL) in connection with an inquiry into financial details and share holding patterns of all the IPL franchisees.
Sources maintained that the visit cannot be termed as a “survey or a search” and that it was undertaken under Section 133 (6) of the Income Tax Act which pertains to the power to call for information. The team also sought some documents.
The income tax department has created a special cell in Mumbai to keep a tab on all income generated by the IPL, the sources said. It said the probe has been initiated to find out if there is any illegal flow of funds or whether any black money in being pumped into the sporting extravaganza including from foreign shores.—Agencies
“There is an inquiry, it is not a raid. The income tax officials are possibly looking for the details of the tender (for Kochi team). We will extend all possible cooperation to them,” IPL commissioner Lalit Modi said.
Immediately after the income tax officials visited the offices of BCCI-IPL at Wankhede stadium, Modi rushed to the headquarters to meet them. There were reports, earlier this week, that income tax and Enforcement Directorate could seek the details of the IPL franchise, particularly Kochi in the face of a major controversy involving some of the promoters.
Modi had divulged names of the Kochi franchise while alleging that Minister of State for External Affairs, Shashi Tharoor had asked him not to reveal the names of the promoters which included Sunanda Pushkar, a close friend of his.
Earlier on Thursday morning, a special team of the Income Tax Department visited the headquarters of the cash-rich T20 Indian Premiere League (IPL) in connection with an inquiry into financial details and share holding patterns of all the IPL franchisees.
Sources maintained that the visit cannot be termed as a “survey or a search” and that it was undertaken under Section 133 (6) of the Income Tax Act which pertains to the power to call for information. The team also sought some documents.
The income tax department has created a special cell in Mumbai to keep a tab on all income generated by the IPL, the sources said. It said the probe has been initiated to find out if there is any illegal flow of funds or whether any black money in being pumped into the sporting extravaganza including from foreign shores.—Agencies
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