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( DLF )Modi -- Tharoor Showdown!!


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( DLF )Modi -- Tharoor Showdown!!  

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Sonia meets Tharoor's boss over IPL row External Affairs Minister S M Krishna on Tuesday met Congress president Sonia Gandhi in the wake of the controversy surrounding Minister of State Shashi Tharoor's role in the IPL's Kochi team Krishna drove past waiting newsmen outside Gandhi's residence without answering any questions from them. Congress Member of Parliament Rajeev Shukla, who is vice president of the Board of Cricket Control of India , also held a meeting with Gandhi. Shukla, however, claimed that he did not discuss the Tharoor issue with the Congress president. "This issue was not discussed with her," Shukla said after meeting Gandhi. Tharoor, who is locked in a fresh controversy around the Kochi IPL team which he helped set up, on Tuesday hit back at IPL boss Lalit Modi , alleging he had made attempts to pressure the winning consortium to abandon their bid for the Kerala outfit. Tharoor also denied that he had told Modi not to ask details about owners of the consortium led by Rendezvous that bought the new franchisee. In a statement, the minister of state for external affairs trained his guns on the powerful cricket board official , alleging that various attempts were made by Modi and others to pressure the members of the consortium to abandon their bid in favour of another city in a different state. "I deny Lalit Modi's allegation that I called him during his meeting with investors in the Kochi consortium in Bangalore on Saturday night in order to press him not to question the composition of the consortium," Tharoor said.

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There was no need for a Kochi or a Pune team. There's no team from Central India. Politicians should stop meddling in IPL matters. Now Politicians will try to get franchise of their hometown/city. Team from Kochi? It's not even a regular cricket center, holding occasional ODI matches and so is Pune. There are not many cricketers from Kerela, and we have a Kochi IPL team, just because one Tharoor wanted to have his own team.
well its an open competition.. anyone can own team as long as he throws in the money.. why Modi shud have a problem with Kochi ..??
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well its an open competition.. anyone can own team as long as he throws in the money.. why Modi shud have a problem with Kochi ..??
Modi's got a problem coz he wanted the Dhoot's of Videocon to own a team, am sure thats how he earns his bread! However on the other hand, if Tharoor's girl does own 18% equity as is being said, then Tharoor is sitting on a cool Rs. 250 crores..I dont blame him for not wanting to disclose that kind of investment!! :--D
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Modi's got a problem coz he wanted the Dhoot's of Videocon to own a team, am sure thats how he earns his bread! However on the other hand, if Tharoor's girl does own 18% equity as is being said, then Tharoor is sitting on a cool Rs. 250 crores..I dont blame him for not wanting to disclose that kind of investment!! :--D
I dont think it is Tharoor's money. He's joined politics very recently to earn that kind of money. I think it is gifted to him by other investors as a gratitude for getting a franchise.
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I dont think it is Tharoor's money. He's joined politics very recently to earn that kind of money. I think it is gifted to him by other investors as a gratitude for getting a franchise.
Rs. 250 crores out of gratitude..you kidding??? Even if their was a sweat equity component, it cant be as high as 18%. Sweat equity seldom goes beyond 5%. Even otherwise, Tharoor is a minister in the Government of India, he should not have lied about his business interest in the IPL franchise. I think Tharoor is Fecked here.
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BCCI raps Modi over Kochi revelations on Twitter Cricinfo staff April 13, 2010 Text size: A | A The controversy over the revelation of the Kochi franchise's ownership details has taken a new, and possibly more serious, twist with ramifications beyond the IPL and the BCCI. In the past 24 hours Shashank Manohar, the BCCI president, has written a strongly worded letter to the IPL commissioner Lalit Modi criticising his decision to make public the ownership details, while Shashi Tharoor, a minister in the Congress-led federal government and a moving force behind the Kochi bid, has responded to charges of a conflict of interest by calling it an "extraordinary breach of all propriety" by Modi designed to discredit the franchise. For his part, Modi is reported to have responded to Manohar's letter by saying his revelations on Twitter were "in no way a breach of confidentiality". He went on to say that the Kochi franchise had "a lot to hide and as such have lied about who are the actual owners of the shares." Timeline March 7: IPL franchise auction is called off after objections over stiff financial clauses March 21: Auction re-staged; Sahara wins Pune bid, Rendezvous group wins Kochi for .33 million. Shashi Tharoor, an MP from Kerala and junior foreign minister in the Congress government, plays facilitating role. Interim: Reports suggest Rendezvous' surprise win has upset bigger players. Tharoor reportedly meets Congress leaders, asks them to ensure pressure eases on Kochi owners, says he has no personal material stake in franchise. April 9: Media reports say BCCI has raised questions over shareholding pattern, asked Rendezvous to clarify its ownership structure. April 10: Kochi owners meet Modi in Bangalore, sign formal agreement to be part of IPL, disclose ownership structure. April 11: Modi, in response to questions on his Twitter feed, reveals Kochi shareholding pattern. One shareholder is a woman whom Tharoor says he "knows well". April 12: Kochi complain to BCCI over Modi's revelations. BCCI chief Manohar criticises Modi for his action. Modi defends himself, saying no breach of propriety. April 12-13: Tharoor issues statement denying any personal stake in Kochi and alleging Modi wants the franchise moved out. "I have minutes of what they [Kochi franchise] said at the meeting. And, in fact, when I questioned who the shareholders were, they had no answer," Modi wrote. "They said they would revert back. Within minutes of me asking the same, I got a call from Shashi Tharoor asking me not to ask about who these shareholders are. You [Manohar] had mentioned that we should ignore who this owner is, but our condition requires us to authenticate who they are. "I am happy to disclose all the facts at the next governing council meeting. As regards not raising it at the time of the tender - we didn't have the foresight to go through the voluminous documents attached to verify each and every shareholder. As regards many other things I have said on my Twitter account, they have actually not been any classified information. It's factual and only something we have or would have put into the public domain." In his letter, as reported in the Times of India, Manohar chided Modi for revealing the stakes of Kochi's owners, saying the BCCI was a body that "functions in accordance with its constitution" and not through the media. "The issue, if any, could have been discussed at the governing council meeting and that action on your part of raising it on Twitter is unbecoming of you as a chairman of the a sub-committee of the board. Your action is in serious breach of the confidentiality clause in the agreement," Manohar wrote. "Till date, you have made public statements about a lot of issues which were not even discussed in the meetings of the governing council when it is the governing council which has the authority to take decisions with regard to each and every issue related to IPL." Tharoor's part in the story stems from his relationship with Sunanda Pushkar, one of those listed by Modi as having free equity in the Kochi franchise. While media reports suggest they have plans to marry, Tharoor in his statement referred to her as someone he knew well but said there was no material gain from it. He said he had "neither invested nor received a rupee for my mentorship of the team… Whatever my personal relationships with any of the consortium members, I do not intend to benefit in any way financially from my association with the team now or at a later stage." Tharoor said the consortium's successful bid in the March 21 auction "upset the plans of a lot of powerful people, who had wanted the franchise to go elsewhere". He said various attempts were made to pressure the consortium members to abandon their bid in favour of another city in a different state. He also denied Modi's charge that he had called the IPL commissioner and asked him not to probe the ownership structure. He had called Modi, he conceded, but "only to ask why he was further delaying the approval of the franchise when all the legal requirements had been fulfilled". ------ I think Modi is fked here... BCCI doesnt want anyone to have a complete control of things.. Modi slowly becoming a dictator might clash with the egos of BCCI.... Modi will be a nobody if BCCI takes on him.. interesting times.. i hope this modi is fked by everyone big time..

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Rs. 250 crores out of gratitude..you kidding??? Even if their was a sweat equity component, it cant be as high as 18%. Sweat equity seldom goes beyond 5%. Even otherwise, Tharoor is a minister in the Government of India, he should not have lied about his business interest in the IPL franchise. I think Tharoor is Fecked here.
Remember it is share in equity , yet to be realized...! Without tharoor's help, they wouldn't have got this franchise, an easy way to park black money without any risk and make definite profit which explains why Tharoor got a share in equity. May be this is part of deal between Tharoor and other investors.
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Delhi-born Puja Gulati, named by IPL commissioner Lalit Modi as one of the shareholders of the Kochi franchise, said she is the Director of Rendezvous Sports, a company she helped promote. She said all eight names tweeted by Modi as holding the Rendezvous free equity were of people associated with the company. “I was one of the promoters of Rendezvous Sports when the company started about ten years ago. Shailendra Gaikwad is the CEO and I am the Director,” said Gulati who is based in Mumbai. “Our main office is in Solapur in Maharashtra. We also have an office in Andheri (Mumbai). The company’s sole interest over the years has been cricket. We have been holding cricket camps called Cricket Happenings all over Maharashtra,” she said. Expressing surprise over Modi’s tweets revealing the names of the franchisee owners, Gulati said: “We have clarified everything before the media at multiple press conferences. As far as accounts and details of ownership are concerned, we have submitted everything to the IPL authorities.” “We have had only a couple of meetings with the partners after the successful bid. We are yet to decide on what role each of us will play next year,” she said when she was asked about her role in the franchise. She said her shares in the franchise were linked to her position in the company and were, hence, not “free”. She said Pushpa Gaikwad, whose name was tweeted along with Shailendra Gaikwad by Modi as “Shailendra and Pushpa Gaikwad,” was not related to the latter and they just happened to share the same surname.
Can you believe that an unknown company with its headoffice in small town solapur and headed by an RTO employee bought an IPL franchise?
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Rs. 250 crores out of gratitude..you kidding??? Even if their was a sweat equity component, it cant be as high as 18%. Sweat equity seldom goes beyond 5%. Even otherwise, Tharoor is a minister in the Government of India, he should not have lied about his business interest in the IPL franchise. I think Tharoor is Fecked here.
Well...I did some more investigation on this. Rendezvous sports holds 25% of equity which is around 400 crores. This is given free for life. ( ???!!!) Modi:
25% of kochi team is given free to Rendezvous sports for life.The same equity is non dilutable in prepetuity.What does that mean? Why ? Wait
So there are 8 investors as part of Rendezvous sports. Modi:
Rendezvous free equity - held by kisan,shailender & pushpa gaikwad,Sunanda pushkar,Puja gulathi,jayant kotalwar,vishnu prasad,sundip agarwal
If we assume all have equal investment in Rendezvous , then each investors are worth 50 crores not 250 crores.
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It is believed that Modi has benami investment in Rajasthan Royals. Why has he just disclosed Kochi's holdings? He should reveal shareholding structure of other franchises also. Our media especially electronic media sucks at investigative journalism. Why can't they try to find out the truth behind who all are there behind each team , how much of them are Benami investments etc..!

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Well...I did some more investigation on this. Rendezvous sports holds 25% of equity which is around 400 crores. This is given free for life. ( ???!!!) Modi: So there are 8 investors as part of Rendezvous sports. Modi: If we assume all have equal investment in Rendezvous , then each investors are worth 50 crores not 250 crores.
Modi reveals Rendezvous 'shadow promoters' Posted : Mon, 12/04/2010 - 7:55am | SportzPower Team Updated : Tue, 13/04/2010 - 10:22am MUMBAI: Indian Premier League chairman Lalit Modi has blown the lid of whatever hopes the "shadow promoters" behind the new Kochi IPL franchise, who pertinently hold 25% "free equity" in the team, may have entertained of staying off the public radar. Even as Rendezvous Sports World, which paid $ 333.33 million to secure the Kochi franchise, signed a formal franchise agreement over the weekend with the IPL, Modi went public on the both the constituents and the shareholding of the consortium through micro-blogging site Twitter. According to Modi's tweets, the partners and shareholding structure in Rendezvous Sports World are: Rendezvous (25% free), Rendezvous (1% purchased), Anchor (27%), Parinee (26%), Film Waves (combine 12%), Anand Shyam (8%) and Vivek Venugopal (1%). Modi further tweeted that that the Rendezvous' 25% free equity was held between Kisan, Shailender & Pushpa Gaikwad, Sunanda Pushkar, Puja Gulathi, Jayant Kotalwar, Vishnu Prasad and Sundip Agarwal. Interestingly, of the 25% fee equity, 18% is held by Sunanda Pushkar. Pushkar, whose name never surfaced in the "coming out parade" that Rendezvous Sports World had recently organised here for the media, is, according to DNA newspaper, directly linked to Kochi franchise "mentor" and minister of state for external affairs Shashi Tharoor. If that is true then Tharoor's claims of having nothing more than a mentoring role in the franchise that he is principally credited with putting together are also suspect. Tweeted Modi, "25% of Kochi team is given free to Rendezvous Sports for life. The same equity is non dilutable in prepetuity. What does that mean? Why? Wait." To further rub it in for the "shadow promoters", Modi said: "Who are the shareholders of Rendezvous. And why have they been given this 100's of million dollar bonanza? "Will disclose those details soon. "A lot of you (are) asking (about) shareholders and events surrounding the Kochi team. I am compiling a note shortly and will put an offical release soon." The IPL chief further accused an unnamed Union minister of trying to pressurise him not to go public with the matter, in particular details about Sunanda Pushkar's stake. Tweeted Modi, "I was told by him not to get into who owns Rendezvous. Specially Sunanda Pushkar. Why? The same has been minuted in my records." Another aspect of Rendezvous Sports World's shareholding that Modi's tweets revealed is that the Kochi franchise has only a 1 % ownership representation from Kerala state itself. Vivek Venugopal is the only stakeholder in the consortium who has any direct business interests in the state. SportzPower's attempts to contact the partners of the Rendezvous Sports World consortium had proved unsuccessful, till the time this report was filed.
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I heard the guys from wikileaks were on colbert yday. Back to topic, something does soem very fishy, but I don't like the way Modi has gone about it, exposing on twitter like that, because if tthere is nothing going on, as a franchise owner, I'd be sooo pi$$ed, that I'd probably drop the team

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