IPL teams feel the heat in tax probe

Agencies/express April 21, 2010


Indian Premier League team owners are now beginning to feel the heat of the massive probe into IPL funding.

A probe into financial deals of the Indian Premier League (IPL) was broad-based on Wednesday with search operations on Kolkata Knight Riders' and Chennai Super Kings' offices. Earlier today there were also raids on Multi Screen Media, World Sports Group and Pat Magnarella Management, its event management and broadcast firms in Mumbai, even as a case was registered to investigate the foreign exchange violations by its franchises.

A team of over 50 officials of the Directorate of Income Tax Investigation started the operations on the premises of Multi Screen Media, World Sports Group and Pat Magnarella Management in Bandra, Khar and Malad suburbs of north-west Mumbai in the morning.

The offices of Deccan chargers, Kochi, Pune, Banglore Royal challengers, Mumbai Indians and Delhi daredevils have also been raided.

In the capital, another investigative wing of the finance ministry, the Directorate of Enforcement, registered a preliminary case against the IPL and its franchises to probe possible violations of foreign exchange rules and regulations.

The 10 franchises under scrutiny are Kochi's Rendezvous Sports, Pune's Sahara group, Mumbai Indians, Delhi Daredevils, Kolkata Knight Riders, Royal Challengers Bangalore, Deccan Chargers, Chennai Super Kings, Rajasthan Royals and Kings XI Punjab.


Fayyaz Alam | 13 years ago | Reply Behind every great fortune, there is a crime (Mario Puzo). You can earn a living honestly but not horde money. Razzmatazz behind IPL is a trail of untold crimes!!
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