Parliamentary report says BCCI, IPL evaded tax

[WC2011INDIA]

New Delhi: A parliamentary panel has rapped on the knuckles of the BCCI and Income Tax Department, alleging that four teams of the cash-rich Indian Premier League (IPL) routed investment from abroad, sources told CNN-IBN on Tuesday. The teams involved in this latest IPL mess are Mumbai Indians, Rajasthan Royals, Kolkata Knight Riders and Kings XI Punjab, who, the panel alleged, have got foreign investments without approval. The panel - headed by former Finance Minister Yashwant Sinha - has thus demanded that all tax exemptions given to the BCCI be withdrawn and those given specifically for the World Cup be reviewed. The report also says that the Income Tax Department connived with the world's richest cricket board, making the BCCI even richer at the expense of the country's taxpayers. Gross financial irregularities have also been found in the IPL Governing council and the aforementioned IPL franchisees.

It's been a great week for Indian cricket. (

[achilles]

Ready for another "We don't know anything; Lalit Modi was running the show and even forged our signatures" show?

[Cricket Tragic]

Ready for another "We don't know anything; Lalit Modi was running the show and even forged our signatures" show?

You've got no idea about the kind of **** that went on in the circus league. It's staggering.

[achilles]

You've got no idea about the kind of **** that went on in the circus league. It's staggering.

I do. Everyone does. It is the doer who gets away.

[Cricket Tragic]

I do. Everyone does. It is the doer who gets away.

And how exactly do you know about what happened? And no, "everyone" does not know what happened.

[achilles]

And how exactly do you know about what happened? And no' date=' "everyone" does not know what happened.[/quote'] It is obvious.

[Cricket Tragic]

It is obvious.

No, there is nothing obvious about it. You clearly don't know the inside details.

[Tapioca]

Looks like they evaded the bribes too

[achilles]

No' date=' there is nothing obvious about it. You clearly don't know the inside details.[/quote'] What I know is and what makes this corruption obvious to me is- 1. The funds were routed through tax havens, without the approval of the authorities. 2. The source of the fundings and the shareholding patterns have been dubious. 3. The legal cases involve exceptional stupid arguments and obvious procrastination by constantly beating round the bush. 4. Board members and politicians hold stakes in the IPL. It all just doesn't seem right and something's amiss. I suspect the IPL is gonna fall like a pack of cards if jugaad is not done fast.

[Cricket Tragic]

What I know is and what makes this corruption obvious to me is- 1. The funds were routed through tax havens, without the approval of the authorities. 2. The source of the fundings and the shareholding patterns have been dubious. 3. The legal cases involve exceptional stupid arguments and obvious procrastination by constantly beating round the bush. 4. Board members and politicians hold stakes in the IPL. It all just doesn't seem right and something's amiss. I suspect the IPL is gonna fall like a pack of cards if jugaad is not done fast.

That's the very basic and what is in the public domain. It's about 10 times worse and once you look at the details, it's a massive scam.

[Stuge]

if dumb ipl is shut ,it will only help Indian team and no one . Lets see how big this scam is .

[yoda]

Looks like they evaded the bribes too

++

[Ramzz]

The teams not named must have paid their bribes to the panel!

[gs]

Looks like they evaded the bribes too

:two_thumbs_up: :hysterical::hysterical::hysterical:

[Pagalpanti]

I hope it turns out to be such a big scam that India govt ban IPL.

[pinkfreud]

That's the very basic and what is in the public domain. It's about 10 times worse and once you look at the details' date=' it's a massive scam.[/quote'] Do you have the details?

[Cricket Tragic]

Do you have the details?

Yeah quite a lot, from details of financial deals to which players were snorting cocaine after the game.

[pinkfreud]

Yeah quite a lot' date=' from details of financial deals to which players were snorting cocaine after the game.[/quote'] With a tournament like the IPL, almost all forms of debauchery and depravity are to be expected. I think most people pretty much have an inkling as to what goes on behind closed doors even if it isn't all out there in the media.

[Cricket Tragic]

With a tournament like the IPL' date=' almost all forms of debauchery and depravity are to be expected. I think most people pretty much have an inkling as to what goes on behind closed doors even if it isn't all out there in the media.[/quote'] You're right but some of stuff is beyond belief. The details will never come into the public domain for various reasons. What comes out is barely 10% of it.

[pinkfreud]

On March 1, 1985, while a sophomore, Modi was arrested on charges of conspiracy to traffic cocaine, assault and second-degree kidnapping. On April 2, 1985, Modi and another student were indicted. Modi pleaded guilty to the crime when the case was heard in the Durham County court, North Carolina and later entered a plea bargain, which resulted in a suspended two year prison sentence. http://en.wikipedia.org/wiki/Lalit_Modi Holy s**t batman! I came across this in just a few minutes and the Indian media hasn't even made a mention of this over the years? Unless I failed to see it on TV or something or have just been 'out of touch'.