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( DLF )Modi -- Tharoor Showdown!!

( DLF )Modi -- Tharoor Showdown!!  

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It seems the Kochi Consortium broke couple of Indian Company Laws. The Indian Company registration law cleary states that no company should give Free equity (share) to anybody withing 1 year of the registration of the company. This company was registered on March 10th, 2010. So by giving Free Equity of 19% to Tharoor's friend (Sunanda Pushkar), the Consortium broke one of the Indian Company registration law. Indian Company law also states that The Free equity given should'nt be more that Rs. 5 Crores or 15% of the total investment. That too has to be decided when the company accounts had to be submitted for Yearly Tax assessment and then Free equity shares can be allotted. Not only that, various Govt. departments had to be notified and taken permission before allotting Free (Sweat) equity/share. It also emerges (from the content of SMS messages shared by Modi with IT officials) that Tharoor insisted to Modi that his Officer On Special Duty (OSD), Jacob Joseph should be present in the negotiations fo the Bid deals between the Kochi Consortium and IPL officials. It seem Jacob Joseph was present in these meetings and might have played a role in negotiating a 'better' Free equity deal for Tharoor's friend, Sunanda Pushkar. That dent's minister Throor's claims in the Parliament that he has in no way infulenced the Bidding process and has no interest in the Consorium, in any way, and has only acted as a 'Mentor'. Fresh details of Ms. Sunanda Pushkar is coming out and it seems she was just working as a Marketing/Sales manager in a Dubai based Property holding company and in all her job assignments till now, can safely be termed as a Middle level official. She has no qualification what soever to claim that she has huge experience in marketing/sales/event management. Her earlier claim that she was approached by KKR management last year has been denied by KKR management. KKR says that nobody has approached to any lady named Sunanda Pushkar with any offer till now. So from being a middle level office worker in Dubai and having some popularity in Dubai's page 3 cirlcles, Ms. Sunanda Pushkar is now owner of 19% stake in a $330 million investment, thanks to Union minister Mr. Shashi Tharoor. Just for having materialistic pleasure, Tharoor misused his position to influence an company to give Free Equity to his Keep. Modi was right to question this secret arrangement. He is no saint. But I think he has done the right thing to expose Tharoor and the Kochi consortium. There couldn't have been any other way. By tweeting he caught the media attention. otherwise Tharoor was keeping it under wraps. He might have broken some confidentialty laws but I say kudos to him in exposing this affair. When the Kochi team won the bid and meat IPL officials, Modi asked the consortium about the share holders of the company in details. They were unable to give details about 4 share holders! They Satyajit Gaekwad (the congressi spokesperson, who is also share holder and present in the meeting) called somebody to get the details of 4 Free equity share holders. Within minutes Tharoor called Modi and asked, why he is going into the details of other Share holders. Tharoor insisted that Modi shouldn't worry about the Free equity share holders. That's where Modi and Tharoor fell apart.

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Sources have told NDTV that Sunanda Pushkar has decided to voluntarily give up stake in Kochi IPL team. Sunanda took the decision to end embarrassment to Tharoor. This may give reprieve to Tharoor. The formal announcement by Sunanda Pushkar giving up stake in Kochi IPL team is likely to made soon. India's Minister of State for External Affairs today met Prime Minister Manmohan Singh with regard to the recent controversy involving him in the Kochi IPL bid. The Congress core group meets this evening at 6.30 at the prime minister's residence to discuss Tharoor, who is Minister of State for External Affairs, and his Indian Premier League (IPL) controversy. The core group consists of the Prime Minister, Congress President Sonia Gandhi, Pranab Mukherjee, P Chidambaram, AK Antony and Ahmed Patel. The Congress is determined to avoid Tharoor's scandal from tainting the PM and the government. The Opposition has demanded that the prime minister address Parliament on Tharoor. (Read: Prime Minister returns, Tharoor tops to-do list) Party sources have told NDTV that the Congress is not convinced by the explanation given to it by Tharoor about his link to the Kochi IPL team, sold last month for 1530 crores to a group led by Rendezvous Sports Consortium. As part of the deal, Tharoor's close friend, Sunanda Pushkar, was gifted equity worth 70 crores. She did not invest a rupee in the franchise; yet, her stake is "undilutable in perpetuity" meaning that even as more investors join and are granted equity, her share will not reduce. Tharoor has said he served as mentor and advisor for the team and did not financially benefit from it. But the party is considering reports that suggest Tharoor lobbied for Pushkar to get an even bigger share. (Read: Sunanda Pushkar's deal: What exactly is it?) A compromise formula is also being considered in which Sunanda Prakash could give up stake in Kochi team to get Tharoor reprieve. (Read: Tharoor under pressure to quit unless Sunanda surrenders stake) The Opposition has demanded that Tharoor be sacked for misusing his public office. On Friday, Tharoor tried to defend himself in parliament but was drowned out by the Opposition so he tabled his statement and then later read it out to reporters outside. (Read: IPL tangle: Tharoor's statement in Parliament) In a sign of how keen the party is to keep its distance from Tharoor, he issued his statement as an individual and MP, and not as a minister. This was ensured so that if it is later revealed that any part of his defense was not correct, the government cannot be held liable for it. The Congress is worried about critical legislation that the government has to push through in parliament, including the finance bill or Budget presented earlier this year, and the nuclear liability bill. It does not want the Tharoor issue to paralyze the government in Parliament.

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Just searched Tharoor and Colbert and this is the first link I found http://www.colbertnation.com/the-colbert-report-videos/156264/march-03-2008/shashi-tharoor Is that the Colbert show :hmmm:
It seems he started thinking about his retirement long back :cheer:
Offering IPL to any scrutiny by any agency, its commissioner Lalit Modi today said that the income tax authorities had sought details relating to two new franchises Kochi and Pune and have gone "satisfied". More...
Thats sums this up :two_thumbs_up:

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Kangress is taking time to sort this mess out but finally it seems Mr. Tharoor is on hos way out. The mere thought of facing a united oppostion tomorrow did the trick, it appears.. The options for Kagress now is to ask Tharoor to hand over resignation (till an investigation is conducted and Tharoor is "exonerated" and recalled back in the ministry). Once Mr. Tharoor goes, the Kangress can target BCCI/IPL/Modi etc. with full vengence (for creating so much trouble for the Kangressis). It can consitute a "Regulatory Board" on BCCI/IPL functioning and make Kalmadi or MS Gill as the Chairman. Hopefully by doing this Kangress can get back on the opposition (which is BJP only, as per them). It will not matter Cricket goes the same way as other Govt. controlled Sports have gone in the country. Kalmadi will prevail..

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Okay. As per the breaking news in TOI, Tharoor has handed over the resignation to the PM. I hope IPL governing body looks in the Kochi franchise's gross voilation of Indian Company Laws/Regulations and cancels it's contract and calls for fresh bids.

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Okay. As per the breaking news in TOI, Tharoor has handed over the resignation to the PM. I hope IPL governing body looks in the Kochi franchise's gross voilation of Indian Company Laws/Regulations and cancels it's contract and calls for fresh bids.
how can they call for fresh bids, if there is no violation of the bid requirements? The violation of Company Laws / regulation may be something for company registrars or some such body which has nothing to with the IPL to look at. As has has been widely reported, if Sunanda Pushkar returns her 25% back tot he consortium, what then. I dream somebody would actually do a massive clean up job and get some transparency into the running of the IPL.

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how can they call for fresh bids, if there is no violation of the bid requirements? The violation of Company Laws / regulation may be something for company registrars or some such body which has nothing to with the IPL to look at. As has has been widely reported, if Sunanda Pushkar returns her 25% back tot he consortium, what then. I dream somebody would actually do a massive clean up job and get some transparency into the running of the IPL.
Shares are not some sort of 'gift items' which you can get and then 'return it' back. These shares has to 'bought' in open market under Sebi guidlines. IPL bidding process involves bidders to not voilate any company laws in their making any consortium and also to disclose the name of the equity holders. That's where the issue created. The Kochi consortium were not forthcoming in revealing their equitly holders and now there isa mess whether one equity holder can just 'return' the equity just like that.. This is serious business going on and not some sort of kinder garten play..

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how can they call for fresh bids' date=' if there is no violation of the bid requirements? The violation of Company Laws / regulation may be something for company registrars or some such body which has nothing to with the IPL to look at. As has has been widely reported, [b']if Sunanda Pushkar returns her 25% back tot he consortium, what then. I dream somebody would actually do a massive clean up job and get some transparency into the running of the IPL.
She has already returned her 4% Sweat Equity back. Thats the end of Tharoor and His Girl Friend. Now they can spend the rest of their lives on a Boat House on Dal Lake or even in a Boat House in the Back Waters of Kerela!

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^ Do you ever sleep?
yes but dont have fixed time for that .. I sleep and awake whenever I want :dance: Found the whole Devil's Advocate interview now. It seems it is a repeat telecast.
Farooq Abdullah: I think the sports gets a boost. In my own state, as Chief Minister and before, if you are part of this sports thing, you are able to do things much rapidly. Then you are able to open gates which normally do not open. That is the only advantage.-- Karan Thapar: --Except for the fact Dr Abdullah, Indian politics is not just demanding and challenging, it has huge problems. If you aren't cheating yourself from your political responsibilities, where do you find time for cricket? Farooq Abdullah: But I will tell you, the importance of it is [that] there are so many good things you can do. Now if you are in the government, you are with the party that is in power. The advantages that you have is that you are able to do things far more rapidly. Karan Thapar: Except for the fact that your first responsibility is as a minister in the Government of India, your political priority should come first. Cricket seems to be taking up some of your time. Farooq Abdullah: No. People are also your responsibility. You are from the people. Government is secondary, you are from the people and you are giving benefit -- Karan Thapar: So cricket comes before government? Farooq Abdullah: No. You are giving benefit to the people. Karan Thapar: Except that you have been chosen to run a government. Run a ministry. If your time is being divided between the ministry and cricket, surely the governance is suffering. Farooq Abdullah: I don't think so. It is not that the man is giving that much time. The board -- Karan Thapar: --Are you seriously saying that ministers don't matter therefore it doesn't matter if they aren't in their ministries, working? Farooq Abdullah: You see, like I have a board, a chairman, a working president, a general secretary, I have other members in Kashmir that are seperate group. That has been elected. A seperate group in Jammu. They run most of the day-to-day works. I am actually, basically, just watching. Karan Thapar: In a country of 1.2 billion, going on to 1.3 pretty soon, are you telling me that they can't find other people to run cricket association? Farooq Abdullah: They can find. Why not? It's not that they can't find. Can you imagine recently, in Rajasthan there was an election. A cabinet minister, my colleague became the president of the Rajasthan Cricket Association. Karan Thapar: Exactly. That is my point. Why are politicians obsessed with cricket? Farooq Abdullah: Because it is not the politicians. It is the people who want them to be in assistance to them. Karan Thapar: Politicians push them in to fight elections. Let me put to you what is a worrying concern. Today criceket far and away the wealthiest of Indian games and at the same time, the proportion of politicans involved with cricket has risen hugely. Is that a coincidence or is that in fact suspicious? Farooq Abdullah: No it is not suspicious because none of us have anything to do with the finances. I have nothing to do with the finances of the association. I do not sign checks. I am only there to see that nothing goes wrong. Karan Thapar: So you are genuinely telling me that altruism alone drives your motivation in cricket? Farooq Abdullah: Exactly. Karan Thapar: What about the fact that you are not there spending as much time with your ministry as much time involved with your constituency as you should be? Both of those have suffered as the cost of cricket. Farooq Abdullah: In the ministry also and as a Member of Parliament, I am able to help in creating stadias. For instance, we have IPL.-- Karan Thapar: --But as a Minister for Renewable Energy, treating stadias is not your priority or your prerogative. How much time do you devote to renewable energy? Farooq Abdullah: All the time. Karan Thapar: But then you can't have time for cricket? Farooq Abdullah: My very little time is there because there is an association which runs the show. It is not the president who runs the show. Karan Thapar: So you have no conscience and you see no confusion in the fact that you have loyalties that you have split between the cricket on the one hand and the politics on the other. Farooq Abdullah: There is no splitting of loyalty because you are also looking after the constituency and you are helping them to develop sports in that area. Karan Thapar: Alright. Let me accept that. Other may quarrel. Let me then put to you. As a cricket administrator, the confusion and the controversy presently surrounding IPL. Are you, as a cricket administrator, embarrassed by the situation that the IPL finds itself in? Farooq Abdullah: First of all, it is unfortunate the way it has been blown up. Lalit Modi is the one man who really did bring IPL to the world stage. We, are the poorest of the association of cricket. Jammu and Kashmir Cricket association is the poorest. It is because of the IPL and the finances that the BCCI gets that we are able to now develop stadias which normally we couldn't develop. Karan Thapar: I accept the point that you are making about IPL and I will come to Lalit Modi in a moments time. But come back to the question I asked you. Are you today embarrassed about the controversy surrounding the IPL? After all, you have corruption, favoritism, tax evasion and lack of transparency. Farooq Abdullah: That is the point. On 23rd of this month, when we meet in Mumbai, all this will be thrashed out as to what has happened? Why it has happened? Where is corruption? Why that corruption? And if there are people who have bought these franchises, they are supposed to be told not only the board but every individual in India or the world that who are the people who are actually purchasing these franchises. Karan Thapar: If I understand you correctly, you are saying to me at the board meeting on the 23rd, all these allegations into corruption would be looked into. In other words you are saying that there is a need to clean up the image of the IPL. Farooq Abdullah: I think it is necessary for the BCCI to start looking into where things have gone wrong. Karan Thapar: So you accept things have gone wrong? Farooq Abdullah: It is not the question. What I have read in the newspaper. I don't know much about it other than what you know. Karan Thapar: When you discovered on television that the Income Tax authorities are raiding the BCCI office, the IPL office, Mr Modi's own hotel suite and then when you read in the Times of India on Friday that there are even serious question marks about the 2008 auction and the people are wondering whether those were free and fair and transparent, are you embarrassed by the totality of the situation? Farooq Abdullah: Every Indian is embarrassed but we do not know what has come out of that raid. You don't know, I don't know -- Karan Thapar: -- But that fact that you are being raided is embarrassing. Farooq Abdullah: There are so many people who are raided. All my life I have seen income tax raids -- Karan Thapar: -- Are you saying it's routine? Farooq Abdullah: Income tax raids are necessary sometimes as you have seen that the amount of money that they have got from these top houses when they have been raied becase a lot of the money is put on the side -- Karan Thapar: Precisely. Income Tax raids happen where there is suspicion and they end up exposing corrupt money. Are you worried that the same thing applies to the IPL? Farooq Abdullah: No. I would say because the media generated so much of hate that this department of Income Tax had no other way out but to go in and see whether there is any truth in the matter or not so we just till that comes out-- Karan Thapar: --Dr Abdullah, this is the second time in this interview that you have pointed your finger at the media. Earlier, you said that the media had blown the matter out of proportion, now you are saying that the media has generated so much hate and the income tax had to wait. Is the media to blame? Farooq Abdullah: Can you imagine? In the entire media, what did I see? Either poor Sani Mirza's wedding -- Karan Thapar: --You are going off the subject. Farooq Abdullah: I am telling you what they did. Our IPL, those were the two things -- Karan Thapar: Are you saying to me that the media is to blame and that the media is really the problem? Farooq Abdullah: Media is not to blame because that is the other important thing that India has in a democracy. But media must look and check before they start pointing fingers. If income tax raid has taken, that is not me -- Karan Thapar: But you know the phrase that there is no smoke without fire. Hundreds and millions of Indians are today saying to themselves if the Income Tax authorities are questioning Lalit Modi for minutes or hours, if they are raiding his offices, IPL offices and BCCI offices for hours, then clearly there is smoke, clearly there is suspicion. Has the good name of cricket which is loved by hundreds and millions has suffered? Farooq Abdullah: Who says no. I would not say that it has not suffered. I think the controversy has blown the entire thing so badly that the cricket lovers are shocked. Karan Thapar: This is why at the meeting on the 23rd, you want a full, thorough and detailed inquiry into all the allegations? Farooq Abdullah: Not only me, I think every member of the BCCI and the IPL will be there to really find out exactly, and in black and white, as to what has happened. Karan Thapar: And there will be no attempt to exonerate or exempt any person and exculpate Lalit Modi becaue he has done good work in the past? Farooq Abdullah: It is not a question of exoneration. It is the question of really finding the truth. Karan Thapar: That's a promise you are giving? Farooq Abdullah: It is not only I giving. I am responsible to the rest of the nation and I stand before the nation. Otherwise the nation will say Farooq Abdullah, what were you doing there? How will I stand before them? Karan Thapar: So this is the responsibility you owe to the people of India? Farooq Abdullah: Everyone of us, who is the member of the IPL, owes this responsibility to India. Not only to India but to every cricketing world. Karan Thapar: Dr Abdullah, lets come to the 2 men at the centre of this sad controversy around the IPL. First Lalit Modi - do you still have faith and confidence in the man? Farooq Abdullah: They say unless proved guilty you are not guilty, so lets wait till the 23rd meeting goes. Karan Thapar: Alright let me then ask you specific questions. He has been accused in the public press of offering a bribe of million to the Kochi franchisees, to give up their franchise. Do you believe that story? Farooq Abdullah: It's not a question of believe, it's in the public domain, we would like to find out whether it's true from the man himself. Karan Thapar: So it has to be thoroughly investigated? Farooq Abdullah: Yes, yes. Karan Thapar: Thoroughly? Farooq Abdullah: Why not? What the hell are we doing there? Karan Thapar: Was Lalit Modi right to reveal the details and names of the Kochi stakeholders, and that too through tweets? Farooq Abdullah: I think it is definitely one of the prime things BCCI had said, that every person who has brought the franchise name should be there. Everything about him should be there, so that people are clear, that who are the owners of that franchise. Karan Thapar: So there is nothing wrong in revealing the names? Farooq Abdullah: Not at all, I don't think so. And if he has not revealed something then he should be held to task. Karan Thapar: So in fact revealing is a plus point? Farooq Abdullah: Yes Karan Thapar: And Tweets are an OK way of revealing it? Farooq Abdullah: He has done it that way. He could have gone to media in a straight manner, that is for him to explain. Karan Thapar: That's a matter of choice? Farooq Abdullah: That's for him to explain to the board. Karan Thapar: It has also emerged that several member of Lalit Modi's family are owners of IPL franchises. Others have, in fact, digital rights in their name. Does that worry you? Farooq Abdullah: Let me tell you. This has come to my knowledge and to other's knowledge--but how do you kill a family if it--if my son-in-law is there and he is in the business thing, I have not done anything to promote his business. Karan Thapar: Except for the fact that if he is your son-in-law, you would ensure that he does not seek business in areas where you have influence. Farooq Abdullah: You see, this is there in the Supreme Court, High Court the same thing that if there is a sitting judge, his son or his relative cannot practice in that court. Karan Thapar: Let me put it like this - is there at least an impropriety in the fact that Lalit Modi's relatives have got contracts, have got digital rights? Farooq Abdullah: See first of all it is going to hit him because he'll have to explain, was he involved in giving it to them? Karan Thapar: And will you call for that explanation? Farooq Abdullah: Yes Karan Thapar: On the 23rd strongly? Farooq Abdullah: Yes, strongly if he has played underhand things to get them, if they have got it on their own I am not against it because if it is a free country. Karan Thapar: But you will look to see if its underhand? Farooq Abdullah: Yes. Not only I, others will also look into it. Karan Thapar: One last question on Lalit Modi. There is speculation in the press that he could be downsized at that meeting on the 23rd or he might even be removed as the chairman of the IPL. Would you be in favour of that sort of action? Farooq Abdullah: No, I will not be in favour, I will not be able to remove him though I would want that BCCI president must exert also a dominant power. Karan Thapar: So in other words you will bring the BCCI president into a position of dominance alongside Lalit Modi? Farooq Abdullah: Yes, important, important. Karan Thapar: So that is downsizing isn't it? Farooq Abdullah: I don't know whether it's downsizing but I think it's checks & balances. Karan Thapar: What if your inquiry on 23rd reveals that there is something underhand about Lalit Modi's behaviour? Farooq Abdullah: Then I think it will have to be taken up by all of us there. I cannot give any comment on it in advance. That we will have to see right there. Karan Thapar: Let's then bring the 2nd person in the eye of controversy, this time its Shashi Tharoor, he is in fact a colleague of yours in the Government - he has been accused both by the BJP and the Left of corruption. Hs he embarrassed the UPA? Farooq Abdullah: Lets see one thing - poor fellow has been in controversy, ever since poor fellow joined. Karan Thapar: Many of them perhaps of his making, some would say. Farooq Abdullah: Yes, I think probably not knowing our Indian way of politics, he has been in the United Nations too long - he just opened his mouth which really put him into a soup Karan Thapar: So you are saying he is naive and inexperienced? Farooq Abdullah: I would say he is naive and inexperienced - he is good looking and smart and he speaks well, but I think he doesn't know-- Karan Thapar: --Is he corrupt? Farooq Abdullah: I don't think so, I don't think he needs to be corrupt Karan Thapar: He doesn't need to be? Farooq Abdullah: No Karan Thapar: Need doesn't determine corruption. Farooq Abdullah: I don't think he is corrupt Karan Thapar: Let me follow this on by a couple of specific questions about Shashi Tharoor to you. He claims he is only a mentor of the Kochi team, but given that he is been repeatedly ringing Lalit Modi - sometimes even late at night after midnight, and given in addition that he has been questioning the way Lalit Modi has been analysing or lets say evaluating the IPL franchises, has he in fact overdone his mentoring? Farooq Abdullah: Well this is what they say - this is one of the things we are going to find out on the IPL meeting - as to what really has triggered this war, between my ministerial colleague and the IPL. Karan Thapar: So you will enquire into that meeting into the conversations Tharoor had with Modi? Farooq Abdullah: Yes, and we would like to have evidence about it Karan Thapar: And you will also enquire whether Tharoor was putting unfair, unwarranted undue pressure on Modi? Farooq Abdullah: Yes, yes. Karan Thapar: So in other words this is an issue that needs enquiry? Farooq Abdullah: Sir, as PM said and I quote PM, and he will come here, I am sure he will get all details from him. Karan Thapar: But an enquiry is needed? Farooq Abdullah: I think the PM is going to enquire. Karan Thapar: Let me put it like this - the Press are asking whether Sunanda Pushkar is a proxy for Shashi Tharoor. The BJP and the Left are convinced she is, what do you believe is the position? Farooq Abdullah: Sunanda is a Kashmiri. Karan Thapar: That doesn't exonerate the possibility. Farooq Abdullah: Hold on hold on and she is a very smart businesswoman. Karan Thapar: She could still be a proxy? Farooq Abdullah: I don't know, because I have no idea, what has transpired between Sunanda and Shashi Tharoor. Karan Thapar: Two quick questions, you are not saying that because she is a Kashmiri and because she is a good businesswoman she can't be a proxy? Farooq Abdullah: I don't know, I frankly don't know. Karan Thapar: So is this a matter that has to be enquired into? Farooq Abdullah: I think they will find out, they will find out. Karan Thapar: Should Shashi Tharoor himself have revealed that he was a close friend of Sunanda Pushkar rather than let it be discovered the way it was? Farooq Abdullah: I think he shouldn't have been afraid. How does it matter - he is a friend of a woman. Karan Thapar: So he should have been upfront about it? Farooq Abdullah: He should have been upfront. Why not? What is there to hide? Karan Thapar: He should have said so at the word go rather than-- Farooq Abdullah: --he should have said she is my friend. How does it matter? Karan Thapar: Because the way it emerged has embarrassed him. Farooq Abdullah: I think it has embarrassed him, he must be feeling sad that I didn't reveal this in the beginning. It's not bad to be a friend Karan Thapar: One last question. Given the principle that Caesar's wife should always be above suspicion and the need to ensure that government ministers are always above suspicion, should Shashi Tharoor step aside until his name is cleared? Farooq Abdullah: That point is to be decided by the Prime Minister not by Farooq Abdullah Karan Thapar: When the Prime Minister decides he will be ordering Shashi Tharoor, you think Shashi Tharoor should voluntarily take the honourable course himself? Farooq Abdullah: I think that I will leave to him. Karan Thapar: If you were in that position what would you do? Farooq Abdullah: I don't think I will ever be in that position. I am too old for such things. Karan Thapar: But god forbid you were? Farooq Abdullah: Well then my decision will be to Karan Thapar: To step aside? Farooq Abdullah: Yes, to go. Karan Thapar: Honour first? Farooq Abdullah: Not only honour of mine, but also honour of the country and the government. Karan Thapar: Dr Abdullah, that answer is crystal clear. A pleasure talking to you. Farooq Abdullah: Thank you.
http://ibnlive.in.com/news/modi-brought-ipl-to-world-stage-farooq/113501-37.html

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What do you have against Kochi :hmmm:
I want a better distribution of team in various regions of India as i belong from Central India and also don't want some rag-tag bunch of business men getting together, making some sort of consortium and bidding for IPL teams. I wand eshablished business houses to be the farnchisees and not some 'aira gaira naththu khairas' getting help from ruling party and winning the bids. Having established business houses bidding will give stability to the IPL teams and not that shre holders running around and giving and taking 'free/sweat equities' with the help of Govt. Ministers. As far as Kochi is concerned, we don't want any more Southie team. We have enough. Kerala players can go and play in other teams as palyers from other regions are doing. You don't need IPL teams to "promote" cricket in any region. You need better infrastructure and other Domestic level tournaments to climb up the ladder. The playing conditions are also tough in a place like Kochi which has hight humidity levels and players will dehydrate themselves.. Lastly, there are certain "sleeping cells" in kochi..I don't want issues there..

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I want a better distribution of team in various regions of India as i belong from Central India and also don't want some rag-tag bunch of business men getting together, making some sort of consortium and bidding for IPL teams. I wand eshablished business houses to be the farnchisees and not some 'aira gaira naththu khairas' getting help from ruling party and winning the bids.
KXIP, KKR, RR :hmmm:
Having established business houses bidding will give stability to the IPL teams and not that shre holders running around and giving and taking 'free/sweat equities' with the help of Govt. Ministers. As far as Kochi is concerned, we don't want any more Southie team. We have enough. Kerala players can go and play in other teams as palyers from other regions are doing. You don't need IPL teams to "promote" cricket in any region. You need better infrastructure and other Domestic level tournaments to climb up the ladder. The playing conditions are also tough in a place like Kochi which has hight humidity levels and players will dehydrate themselves.. Lastly, there are certain "sleeping cells" in kochi..I don't want issues there..
And there are not enough Northie teams?, and you need an IPL team in Central India for what? , and the playing conditions in Central India in summer are like England?, and there are no "sleeping cells" in any of the other cities that the current IPL teams represent?

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I want a better distribution of team in various regions of India as i belong from Central India and also don't want some rag-tag bunch of business men getting together, making some sort of consortium and bidding for IPL teams. I wand eshablished business houses to be the farnchisees and not some 'aira gaira naththu khairas' getting help from ruling party and winning the bids. Having established business houses bidding will give stability to the IPL teams and not that shre holders running around and giving and taking 'free/sweat equities' with the help of Govt. Ministers. As far as Kochi is concerned, we don't want any more Southie team. We have enough. Kerala players can go and play in other teams as palyers from other regions are doing. You don't need IPL teams to "promote" cricket in any region. You need better infrastructure and other Domestic level tournaments to climb up the ladder. The playing conditions are also tough in a place like Kochi which has hight humidity levels and players will dehydrate themselves.. Lastly, there are certain "sleeping cells" in kochi..I don't want issues there..
You wanted the team in Pune and you are also talking about distribution. Your southie hate is becoming too obvious. Here's one for you :finger:

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I want a better distribution of team in various regions of India as i belong from Central India and also don't want some rag-tag bunch of business men getting together, making some sort of consortium and bidding for IPL teams. I wand eshablished business houses to be the farnchisees and not some 'aira gaira naththu khairas' getting help from ruling party and winning the bids. Having established business houses bidding will give stability to the IPL teams and not that shre holders running around and giving and taking 'free/sweat equities' with the help of Govt. Ministers. As far as Kochi is concerned, we don't want any more Southie team. We have enough. Kerala players can go and play in other teams as palyers from other regions are doing. You don't need IPL teams to "promote" cricket in any region. You need better infrastructure and other Domestic level tournaments to climb up the ladder. The playing conditions are also tough in a place like Kochi which has hight humidity levels and players will dehydrate themselves.. Lastly, there are certain "sleeping cells" in kochi..I don't want issues there..
ONE MORE :finger:

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Lalit Modi charged with 'Betting & Laundering' by the I-T dept! http://economictimes.indiatimes.com/news/news-by-industry/et-cetera/Lalit-Modi-charged-with-Betting--Laundering/articleshow/5829947.cms

Lalit Modi charged with 'Betting & Laundering' 19 Apr 2010, ,Rohini Singh & Sruthijith KK,ET Bureau NEW DELHI: ‘Mr Lalit Modi has had a trail of failed ventures and defaults till four years back but has a lifestyle now that includes a private jet, a luxury yacht and a fleet of Mercedes S class and BMW cars all acquired in the last three years.’ Thus opens a highly confidential and explosive report by the income-tax department that has been in the possession of the government for six months now but formed the basis of any action only on Thursday evening after a raging controversy over secret ownerships and sweetheart deals in the Indian Premier League, or IPL, stalled both houses of Parliament. Highly-placed sources in the I-T department and the Congress party told ET that Mr Modi has been on the government radar for quite sometime. The alleged opaqueness with which he conducted the multi-billion dollar cricket tournament and the manner in which he took on home minister P Chidambaram in 2009 seem to have resulted in a detailed enquiry into his activities by the I-T department. The report, whose contents were described to ET reporters, paints a startling picture of the alleged activities of the controversial IPL commissioner, ranging from his manipulation of land deals in Rajasthan and the existence of a maze of shell companies and offshore entities used to route payments and equity stakes worth hundreds of crores of rupees. The report also makes the startling allegation that Mr Modi—through his associates—was ‘involved’ in ‘betting’, while “insider information and outcome fixing of IPL matches were hinted at”. The six-month-old report, which I-T sleuths maintain is the basis of current investigations, is obviously referring to betting and insider information in the first two IPL tournaments, not the current one. In preparing the report, investigators seem to have accessed his email account, confidential conversations on a UK-registered cell phone number and regulatory filings from across the globe, from Mauritius to Ireland to the US. Some other Indian cell phone numbers have also been unearthed which the I-T sleuths claim Mr Modi “keeps changing”. The report alleges that Mr Modi is “apparently deeply embroiled in both generation of black money, money laundering, betting in cricket (match fixing of certain IPL matches)”. An email sent to Lalit Modi remained unanswered on Sunday evening. His lawyer was also sent the same email. A number of his associates named in the report might come under the scanner as the investigation, which started with visits to Mr Modi’s offices on Thursday evening, progresses through the coming weeks. Even though the report detailed the premises the tax department wanted to raid and sought permission to go ahead, political clearance was not granted until junior minister for external affairs Shashi Tharoor stepped into IPL’s murky quicksand and with him dragged the government and the Congress party into one of the biggest scandals in recent times. “This is not just a Pandora’s box but a Pandora’s chest that has been opened,” said a senior Congress leader who has knowledge of the report. “This will indict everyone,” he said, speaking on condition of anonymity. When contacted about the contents of this report, the official spokesperson of Central Board of Direct Taxes (CBDT), Shishir Jha, SMSed a terse ‘no comment’ to the ET reporter. The report refers to one Deepa Raizada as a close associate of Mr Modi “who handles his cross-border transactions and offshore companies”. Ms Raizada is CEO of Modi Entertainment Networks and has worked at the firm for nearly 10 years, according to two persons who work at the company. The I-T report says she has previously worked with Equity Associates, a boutique investment firm based out of Ontario, Canada. Ms Raizada did not take calls made on her mobile number and did not respond to a text message from the ET reporter. Her home phone remained unreachable through Sunday and an email sent to an id listed under her name on the Modi Group’s website bounced. A league of extraordinary betting? What will come as most disturbing to cricket fans is that the report suggests pervasive betting and outcome fixing in the IPL. According to the report, Modi himself is involved through Samir Thukral, a Delhi-based “page 3 personality” with an “opulent lifestyle despite having no apparent source of income”. Mr Thukral is a permanent fixture at all IPL matches with VIP access, the report says, adding that he “carries out the betting on behalf of Lalit Modi”. I-T sleuths are investigating “a lot of matches of IPL, especially involving the three teams in which Modi has an interest”. The mobile number listed in the report against Thukral actually belongs to Samir Thukral, a co-founder of Shree Capital Advisors, a Delhi-based private equity advisory firm. His bio-data says he has interests in online lottery business and real estate. “I have known Lalit for 30 years and he is a good friend. And yes, of course, I went to South Africa for IPL matches, but these are wild and baseless allegations,” Mr Thukral told ET. On Sunday afternoon, Rahul Nayar, founder of Shree Capital Advisors, told ET that Mr Thukral doesn’t work for him anymore. He refused to answer other queries and hung up on ET reporters. Mr Thukral, however, maintained that he is the co-promoter of Shree Capital Advisors. Ownership issues The report alleges that Modi has silent ownership in three IPL teams—Rajasthan Royals, Kolkata Knight Riders and Kings XI Punjab. According to the report, Rajasthan Royals’ owner Emerging Media is controlled by Manoj Badale, Mumbai Education Trust and Ranjit Thakre, a former employee of ITC Ltd. It says a 25% stake in the team is with “hidden owner” Suresh Chellaram, a Nigeria-based co-brother-in-law of Mr Modi. Manoj Badale did not respond to an email seeking comment from ET. Incidentally, Rajasthan Royals won the first IPL tournament in 2008. The report also says Kolkata Knight Rider’s co-owner Jay Mehta, who is married to actor Juhi Chawla, is “partly fronting” for Lalit Modi. Industrialist Jay Mehta denies these allegations. According to an official response from KKR, the team is wholly-owned by actor Shah Rukh Khan and Mr Mehta and there are no other shareholders. “Kolkata Knight Riders is owned by Mr Shah Rukh Khan and The Sea Islands Ltd (a company incorporated in Mauritius), which is a wholly-owned subsidiary of Mehta International Ltd—the holding company of the Mehta Group. The shareholding pattern is as follows: Mr Shah Rukh Khan-55%; Sea Islands Ltd-45%. There are no other investors in Knight Riders Sports Private Limited,” said a spokesperson of KKR. The report claims that Modi owns a stake in Kings XI Punjab through Akash Arora, owner of Delhi-based BPO Netlink Blue. Arora is a part-owner of the team along with Ness Wadia and Mohit Burman, according to the report. “Akash does not and has never owned a stake in our team,” said Mohit Burman. He, however, declined to categorically state that 100% of the team’s ownership rests solely with himself, Preity Zinta, Ness Wadia and Karan Paul. Mohit’s younger brother, Gaurav Burman, who is married to Lalit Modi’s stepdaughter, told ET that he also owns a stake in the Mohali team. He volunteered this information while responding to allegations in the report that he is linked to Betfair, a UK firm that runs one of the world’s largest betting syndicates on the Internet. As readers of ET would know, betting is a legal activity in the UK. The report says that according to information contained in Modi’s email account, the IPL chairman is helping Betfair, which is seeking to enter the casino and hospitality business in India. “Gaurav Burman is to receive equity on behalf of Lalit Modi,” the report says. “This is completely baseless, I have no links whatsoever with Betfair,” Gaurav Burman told ET. From Modi’s emails, the tax department also accessed details of a transaction relating to the purchase of a luxury yacht in Malta that is to be delivered in Mumbai or Dubai. Conflicts of interest WSG and IMG, two companies that received BCCI contracts, are both old business partners in Modi’s own businesses. Modi Entertainment Networks runs Fashion TV in India. IMG did business with Fashion TV for years before it won the contract for managing IPL. IMG, a powerful global firm with interests in sports, media and entertainment, was to get 10% of IPL’s revenues as management fee. In July 2008, following murmurs that this was too sweet a deal, BCCI terminated the contract. The two parties later renegotiated and IMG was back in the game with a substantially reduced fee.According to the report, WSG, which owns IPL’s overseas rights, was owed $2.5 million by Modi Entertainment Network from an earlier transaction over which Modi had lost litigation both in India and the UK. The report alleges that by awarding WSG rights at favourable terms, Modi was settling the old dues from his private business. Netlink Blue, whose owner Akash Arora is a part-owner of Kings XI Punjab, according to the report, is another firm that has received favourable BCCI contracts. “The close links of Modi with Netlink are established through a series of emails wherein Lalit has illegally given Netlink live feeds of Australia-India series before BCCI president intervened and stopped this illegal sale of rights,” the report says. Sure enough, the favour is not without a quid pro quo. “From Netlink, a part of payoff is by way of a commitment to bail out Mr Modi’s sick venture Voyages TV through cash injection of Rs 8 crore in the form of equity,” the report says, citing emails that were available to I-T sleuths.
Okay so my question now is, if fixing is part of IPL would all you guys following IPL still be part of this circus?! Anyway this aint that surprising seeing the kind of money being involved in IPL. .

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Mr Lalit Modi has had a trail of failed ventures and defaults till four years back but has a lifestyle now that includes a private jet, a luxury yacht and a fleet of Mercedes S class and BMW cars all acquired in the last three years.
:adore: :adore:

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BTW I read somewhere a long time ago that the amount of illegal wealth that is locked up in Swiss banks by Indians is enough to easily wipe out the entire debt of the country if not more.
Yeah you read it right.

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bas kya bhau... Absolutely nothing will come out of it. This is India afterall. Pawar is *THE* most corrupt person on this planet ... if he can run around scott free so will anybody under his wings. Absolutely no one can touch these mofo's ... you need someone ruthless like the other real Modi.
Seems like the more powerful BCCI babus and Kangress are in it together to get Modi off Indian cricket and IPL and that in itself won't be such a bad thing. The guy seems to make random unilateral decisions and I would be happy to see him out of the picture.

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Seems like the more powerful BCCI babus and Kangress are in it together to get Modi off Indian cricket and IPL and that in itself won't be such a bad thing. The guy seems to make random unilateral decisions and I would be happy to see him out of the picture.
I am with you on this. :two_thumbs_up:

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yeah ... but I dont think the guy is soo stupid to piss off Pawar .. or has he :omg:
He took on PC last yr .. thats as high as u mess with other than Gandhi family and MMS.
the manner in which he took on home minister P Chidambaram in 2009 seem to have resulted in a detailed enquiry into his activities by the I-T department.

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He took on PC last yr .. thats as high as u mess with other than Gandhi family and MMS.
P Chidambram will take the responsibility of that mess and offer his resignation. Thats the best he can do.

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‘Mr Lalit Modi has had a trail of failed ventures and defaults till four years back but has a lifestyle now that includes a private jet, a luxury yacht and a fleet of Mercedes S class and BMW cars all acquired in the last three years.’
the manner in which he took on home minister P Chidambaram in 2009 seem to have resulted in a detailed enquiry into his activities by the I-T department.
Chidambaram and the IT people jest jelus that they don't have private jets and BMWs. So they made up all this. Modi made his fortune through honest hard work.

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Honest hard work? :) I mean, we are hardly in a position to judge whether Modi has been honest, really. I for one strongly suspect foul play but would desist making comments either way until we have concrete proof.

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How is modi "charged" with fraud? They are still suspecting and assuming, nothing is found or there is lack of evidence. Although its getting murkier by the day, hes still innocent until guilty. But I cant imagine a witty/cunning man like Modi get bogged down by the obvious "bad deeds" of cricket.

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