Malcolm Merlyn Posted January 22, 2015 Posted January 22, 2015 - The BCCI amendment that allowed the BCCI officials to have commercial interest in the teams in the IPL has been struck down. - N Srinvasan cannot contest next elections for the post of BCCI chief. - The BCCI should hold its elections within six weeks. - No proof against Srinivasan in the case of cover-up during the BCCI investigation - Raj Kundra and Gurunath Meiyappan have been found guilty of betting. The decision on the fate of Rajasthan Royals and Chennai Super Kings will taken within three months after a probe by a three-member panel
Malcolm Merlyn Posted January 22, 2015 Author Posted January 22, 2015 Lord/Sabby/GB Please transfer this thread to CT.
Malcolm Merlyn Posted January 22, 2015 Author Posted January 22, 2015 IPL Verdict Out.Srini cant contest elections/Kundra/Gurunath Guilty of corruption/BCCI clause deemed illegal - The BCCI amendment that allowed the BCCI officials to have commercial interest in the teams in the IPL has been struck down. - N Srinvasan cannot contest next elections for the post of BCCI chief. - The BCCI should hold its elections within six weeks. - No proof against Srinivasan in the case of cover-up during the BCCI investigation - Raj Kundra and Gurunath Meiyappan have been found guilty of betting. The decision on the fate of Rajasthan Royals and Chennai Super Kings will taken within three months after a probe by a three-member panel
Malcolm Merlyn Posted January 22, 2015 Author Posted January 22, 2015 Great day for Indian Cricket! Srini booted out of BCCI.
Kalia_Test Posted January 22, 2015 Posted January 22, 2015 ^^^ He can give away his CSK ownership to some nominee and contest BCCI elections as per news
Malcolm Merlyn Posted January 22, 2015 Author Posted January 22, 2015 ^^^ He can give away his CSK ownership to some nominee and contest BCCI elections as per news Source?
Malcolm Merlyn Posted January 22, 2015 Author Posted January 22, 2015 Even the survival of CSK is not guaranteed.
jalebi_bhai Posted January 22, 2015 Posted January 22, 2015 Great day for Indian Cricket! Srini booted out of BCCI. I guess you feel vindicated atm. :--D
Sachin=GOD Posted January 22, 2015 Posted January 22, 2015 Eagerly awaiting the report/judgement of the committee - it will not only decide punishment for Kundra/Meyyeipan/CSK/RR but has also been asked by SC to recommend sweeping reforms within the BCCI so as to ensure that cricket runs in a fair manner.
Malcolm Merlyn Posted January 22, 2015 Author Posted January 22, 2015 NDTV News. I am watching live Watch Times Now.They are discussing the issue.
Kalia_Test Posted January 22, 2015 Posted January 22, 2015 N. Srinivasan Can't Contest BCCI Elections Till he Gives up Commercial Interests in Cricket: Supreme Court link His commercial interest is IPL CSK Team again through India Cements. Many structures are possible in Corporate world and his CAs/lawyers would already be busy now :cantstop: BTW, India Cements is UP >9% on the news
Kalia_Test Posted January 22, 2015 Posted January 22, 2015 Watch Times Now.They are discussing the issue. Watching but this Arnab is annoying
Malcolm Merlyn Posted January 22, 2015 Author Posted January 22, 2015 http://www.firstpost.com/sports/mudgal-report-live-sc-to-decide-fate-of-n-srinivasan-and-csk-shortly-1815739.html
Malcolm Merlyn Posted January 22, 2015 Author Posted January 22, 2015 N. Srinivasan Can't Contest BCCI Elections Till he Gives up Commercial Interests in Cricket: Supreme Court link His commercial interest is IPL CSK Team again through India Cements. Many structures are possible in Corporate world and his CAs/lawyers would already be busy now :cantstop: BTW, India Cements is UP >9% on the news SC has thrown out that structure already saying that no direct or indirect commerical interest can be allowed. Also CSK is owned by India Cements and he will need shareholder approval to sell it and that will raise legal hassles.Assuming that by selling CSK he can run for BCCI elections.Also remember that there are only 6 weeks for BCCI to hold elections.
Kalia_Test Posted January 22, 2015 Posted January 22, 2015 SC has thrown out that structure already saying that no direct or indirect commerical interest can be allowed. Also CSK is owned by India Cements and he will need shareholder approval to sell it and that will raise legal hassles.Assuming that by selling CSK he can run for BCCI elections.Also remember that there are only 6 weeks for BCCI to hold elections. India Cements need not sell CSK. He can transfer his shareholding in IC to some dummies or convert his shares to convertible bonds ( which are treated as debt and hence no ownership ). I am no expert in this matter though.
Malcolm Merlyn Posted January 22, 2015 Author Posted January 22, 2015 India Cements need not sell CSK. He can transfer his shareholding in IC to some dummies or convert his shares to convertible bonds ( which are treated as debt and hence no ownership ). I am no expert in this matter though. Lol.Thats what he claimed saying that he personally owned only 1 percent of IC.But SC ruled that Srini and family directly and indirectly own almost 40% of IC.So that route is closed.
Precambrian Posted January 22, 2015 Posted January 22, 2015 All Mama needs to do is to transfer his stake to a benami and be done with it :finger: Otherwise he has come out clean - the judges vented their frustration by rebuking him. Maama na summava...!
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