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further tweeting by Lalit Modi the Big Boss of IPL regarding the stake holders of the Kochi Franchisee. The Sweat equity issued to Sunanda Pushkar who is a close associate of Shashi Tharoor led to an aligation against Sashi Tharoor .Sunanada Pushkar is a business woman based in Dubai, basically and Indian from Kashmir. The Shashi Tharoor and Sunanda Pushkar Story The controversy led to the resignation of Shashi Tharoor from his Minister post. I feel, Shashi Tharoor did a mistake. Explanations from Shashi Tharoor were not convincing to the UPA leaders including the Prime Minister and was asked to quit. The reason I feel that Shashi Tharoor did a mistake is not that he took a kickback (not proved yet) for this deal, but while holding a Minister post, he should not have got involved when a sweat equity (shares paid for some kind of hard work)was given to his known friend. As per his explanation given to NDTV, he did it for his state and his love for cricket which is something acceptable. It¶s very natural that he got into trouble because, its always been like this and shows that he is very new to Indian Politics and don¶t know how to take kickbacks(If it was so). He is a very accepted leader but he did not know Indian politics and the dirty games involved. He has a very clean history till date, so we cannot confirm what was the real deal unless a fair investigation is done. Today Shashi Tharoor spoke in the parliament giving some clarifications and also informed that he has requested the Prime Minister to do an investigation so that he can get things cleared and let the country know about his involvement in this Bid. Now comes the interesting part :The Lalit Modi and IPL story IPL is a very valuable product and has taken Indian cricket to a very high level. Billions of dollars being transacted in this event and every cricket lover loved this event. Lots of money is involved in IPL with big corporates investing in this product. Lalit Modi has done a great job to bring IPL to this level and I am sure every Franchisee has accepted this. IPL being an event which involves lot of money with no transparency now leaves lots of un-answered questions in the mind of every cricket lover. I have never read anywhere how much money each Franchisee is earning and how are they making money. What is the amount of money received from the sponsors and other events are not made known to the public. After these allegations and controversies, many facts are coming out. Nothing is proved yet, but the allegations sounds worrying. Many politicians involved, unknown stake holders, some sweat equity stake holders, betting, match fixing, money laundering , scams, etc. Modi was even alleged to have offered US$ 50 million to the Kochi franchisee to go back and give the Franchisee to Ahmedabad. As normal citizens, we just know what we read and hear from the media. The IPL Scam is now the top headlines of most of the Indian newspapers these days and people like Shashi Tharoor and Lalit Modi and the news makers in different television channel. The Government of India has decided to probe the IPL transactions and the details of the income and bring the details to the public domain. The finance minister has assured the citizens of India that he will make sure that everything in and out of IPL will be thoroughly investigated and the culprits will be punished. Will the investigation be fair, surely it has to be, because now the media is doing better investigations and information passed to the public. Lalit Modi has reported to have some criminal charges in the past and I am sure, he is not a very clean person. He will not work so hard to take IPL to
his credit card transactions being scanned. celebrities. corporate heads may find themselves in trouble.such big height unless he has a good personal earnings. How much does Lalit Modi earns from IPL? 3. However I was not able to provide the details. his phone tapped. Is there any tax benefit for IPL team owners? There are few questions which came in my mind when I wrote this post and I sure many of you also don¶t know the real numbers as answers. We need to wait and see to know if we as the public were kept indark? Twitter has done a lot as all these started from tweets from Lalit Modi. Are there any kind of betting or match fixing? 7. There are many questions in a common person¶s mind regarding IPL 1. No where will you find the complete description of who. He just returned from Dubai on a chartered flight cornered by media people sang the question himself and answered that everything will be proved and he will bring out the facts. He will surely bring all the facts and names out. Its not small money. He is already under the scanner. Probable possibilities if Modi is forced to quit Many politicians. Even if one does what are the chances of obtaining the correct . My reasoning for this is that there is a lack of transparency in the dealings of IPL. Lalit Modi will not keep his mouth shut. US$ 3 billion is the money behind IPL which is raised from the Franchisee and television rights Finance minister Pranab Mukherjee told Parliament in New Delhi yesterday that ³all aspects´ of the competition will be investigated including how more than $3bn raised from franchise sales and television rights have been invested. I have spoken about the money laundering of by a big consortium to buy the franchisees. No one is even implementing the Right to Information Act to get the details. Fate of Lalit Modi IPL is well know to be Lalit Modi¶s Baby and most of the channels showing that Lalit Modi is asked to quit after this season of IPL final match which is on the 25th of this month. How does the IPL Franchisees make money? 2. I have done my best to catalogue the ownership of franchisees yet I have failed to specify it in exact measure. etc. how many entities & how much is their ownership of the franchisee. What is the money involved in these matches and who all are making the real money? 6. Why is the demand for Franchisee when the current IPL Franchisee says that they are losing money? 4. How are politicians involved in IPL? 8. Lalit Modi¶s Awesome Scam: µIndian Parivaar League¶ Exposed In my previous articles. Who are the real owners of these IPL teams? 5.
you have the media to thank. It has unintentionally landed him in trouble before and has bought him one again. The minister of state for External Affairs is not new to his tweets controversies. I shall show you the break-up of ownership of the Kochi franchisee that was bought at $333 million: Anchor Earth ± 27% Parinee Developers ± 26% Film Waves Combine ± 12% Anand Shah Estates ± 8% Vivek Venugopal ± 1% Rendezvous ± 1% The above constitute 75% the rest 25% is divided into 1000 shares that is owned by Gaikwads ± 75. They were astounded to uncover that some IPL franchisees had routed their money through various tax havens like British Virgin Isles. Bahamas. He is not entirely innocent in the matter. When IPL franchisees first formed the Income Tax officials looked into the matter of funds. Mauritius & Hong Kong. You cannot undermine the corrupt practices of the BCCI especially when there is so much money riding on it. The only glimpse we can have of these is when fellow scamsters throw dirt on each other. When he tried to be a little transparent the other camp cried foul. How & when it snowballed into such a big issue. (so technically they cannot bid in India) But once it obtained the rights (as Mr. Not having a detailed account of the matter due to the law restrictions of these countries they could no longer pursue the cases. Still we are unable to nail them due to the legalities involved. This put them off guard to investigate further into the matter. Now this firm was not registered in India. The recent spat of Tharoor vs. At a time when politicians are demanding the return of black money of Indians from Swiss banks such practices continue to thrive. All they could surmise was that entities were formed in these countries to route investments to Indian companies that bought the franchisees. In a certain case (name withheld) it was found that a particular UK based firm was awarded the rights for an IPL franchisee.4% . Modi has brought to light a few malpractices. To save themselves from investigation of their books by the authorities they took the long route and it worked.information. It is still an insignificant matter per se because they are concentrating their resources on the personal differences on Modi & Tharoor and missing the point of unlawful practices. Modi gave away to the bidder) it made a joint venture with an Indian company in Mauritius which in turn operated the franchisee through a fully Indian owned company. Do you remember the case of the Golden Boy Kapil Dev when he tried to go against the BCCI? Integrity needs to bend over before money.
So we see who are the true culprits in this game of hide & seek. Yeah and also. Indeed half the Sensex runs on anonymous owners. hard spanking if he intends to continue meddling in the game we all love for personal gains and some camera time. . To conclude this half baked story I must say that if IPL needs to show more transparency in their dealing to avoid such dramas. Tharoor had asked the IPL to conceal.Sunanda Pushkar ± 19% And Puja Gulati. If Preity Zinta is the richest babe in Bollywood then how is it that Akshay Kumar is the highest tax payer? It was rumoured that Sachin Tendulkar sought a 30% stake in Mumbai Indians but was not allowed as he is an active player. Lalit Modi needs one nice. It was the owners of these 1000 shares that Mr. J. Agarwal own 5. This practice is not uncommon in India. It was perceived wrong of him when he requested the non disclosure of a few of the stakeholders. Prasad. Personally I¶d say that even in matters of corruption personal lives should be sparred else what will be the difference between your colleagues & your gossip hungry neighbour. S.6% variously amongst themselves. Kotalwar. V.