Kalia_Test Posted April 24, 2015 Posted April 24, 2015 Folks - check Twitter trend #CSKFor5lakhs :cantstop: Ravindra @ravirao83 If one can get #CSKFor5Lakhs , to RCB ka valuation chillar me hoga? 12:21 PM - 23 Apr 2015 RCB :hehe: Ankur Singh @TheSinghAnkur Selling my 3 year old Hyundai Verna 22k KM, mint condition on #OLX . Price minimum 5 lakh. Will use the proceeds to buy #CSK #CSKFor5Lakhs Shilpa Rathnam @shilparathnam Things that are more expensive than CSK: Virat Kohli's haircut, Sakshi Dhoni's shoes, Yuvraj Singh's dad's BP medication. #CSKFor5Lakhs 12:06 PM - 23 Apr 2015
Malcolm Merlyn Posted April 24, 2015 Author Posted April 24, 2015 Enforcement Directorate investigating the deal.More trouble for Srini. http://indiatoday.intoday.in/story/chennai-super-kings-valuation-ed-ipl-governing-council/1/431778.html
bulbul Posted April 24, 2015 Posted April 24, 2015 Enforcement Directorate investigating the deal.More trouble for Srini. http://indiatoday.intoday.in/story/chennai-super-kings-valuation-ed-ipl-governing-council/1/431778.html never ever underestimate sheer genius of Seeni :nervous:
velu Posted April 24, 2015 Posted April 24, 2015 never ever underestimate sheer genius of Seeni :nervous: or financial genuis of mallya :giggle::giggle::giggle:
yoda Posted April 24, 2015 Posted April 24, 2015 It is clearly in violation of laws to undervalue yourself so you can pay less tax. Not sure how they thought they can get away with this especially given all the scrutiny.
bulbul Posted April 24, 2015 Posted April 24, 2015 It is clearly in violation of laws to undervalue yourself so you can pay less tax. Not sure how they thought they can get away with this especially given all the scrutiny. Seeni thought he is Invincible.
velu Posted April 24, 2015 Posted April 24, 2015 Seeni thought he is Invincible. like how mallya thought he can keep flying :giggle::giggle:
BeautifulGame Posted April 24, 2015 Posted April 24, 2015 It is clearly in violation of laws to undervalue yourself so you can pay less tax. Not sure how they thought they can get away with this especially given all the scrutiny. Tax is based on profit generated not paid up capital.
bulbul Posted April 24, 2015 Posted April 24, 2015 Tax is based on profit generated not paid up capital. That's fine..but then why ED want to involve in this case?
BeautifulGame Posted April 24, 2015 Posted April 24, 2015 NEW DELHI: The formation of the new the company Chennai Super Kings Private Limited is suddenly under the scanner with some IPL governing council members alleging that it has been valued for Rs 5 lakh, far less than its actual price. The issue will come up for discussion in the forthcoming working committee meeting of the BCCI in Kolkata on April 26. The details of the de-merger of Chennai Super Kings from India Cements were presented in the IPL governing council's meeting last week where some of the members raised questions about the team's valuation. There was no official communication from Chennai Super Kings Private Limited or India Cements on the issue on Thursday. But one understands that the Rs 5 lakh that was shown was not the business value but the initial capital of the new company when it was formed. A clearer picture will emerge closer to the working committee meeting when the CSK Pvt Limited bosses meet. There might well be a debate in the working committee meeting, but those presenting the case of CSK are confident that they will come out unscathed. "There's nothing that has been done illegally. So we have nothing to worry," a source said. http://timesofindia.indiatimes.com/sports/ipl-2015/news/BCCI-to-discuss-valuation-of-CSK-in-April-26-meeting/articleshow/47035005.cms
BeautifulGame Posted April 24, 2015 Posted April 24, 2015 That's fine..but then why ED want to involve in this case? Probably because they want to make sure there isnt anything illegal.CSK is a subsidiary so no information or profit sharing details are available in public domain.Even then they havent issued anything officially about investigation is it?
bulbul Posted April 24, 2015 Posted April 24, 2015 Probably because they want to make sure there isnt anything illegal.CSK is a subsidiary so no information or profit sharing details are available in public domain.Even then they havent issued anything officially about investigation is it? There is a plan of checking documents as per reports. But if everything ok why IPL GC didn't issued any corrective statement? why CSK management didn't produced evidence?
velu Posted April 24, 2015 Posted April 24, 2015 NEW DELHI: The formation of the new the company Chennai Super Kings Private Limited is suddenly under the scanner with some IPL governing council members alleging that it has been valued for Rs 5 lakh, far less than its actual price. The issue will come up for discussion in the forthcoming working committee meeting of the BCCI in Kolkata on April 26. The details of the de-merger of Chennai Super Kings from India Cements were presented in the IPL governing council's meeting last week where some of the members raised questions about the team's valuation. There was no official communication from Chennai Super Kings Private Limited or India Cements on the issue on Thursday. But one understands that the Rs 5 lakh that was shown was not the business value but the initial capital of the new company when it was formed. A clearer picture will emerge closer to the working committee meeting when the CSK Pvt Limited bosses meet. There might well be a debate in the working committee meeting, but those presenting the case of CSK are confident that they will come out unscathed. "There's nothing that has been done illegally. So we have nothing to worry," a source said. http://timesofindia.indiatimes.com/sports/ipl-2015/news/BCCI-to-discuss-valuation-of-CSK-in-April-26-meeting/articleshow/47035005.cms looks like Malcolm Merlyn aka sunnyji aka mamthafanboy jumped his gun early :--D
rajmarie Posted April 24, 2015 Posted April 24, 2015 & then Srini said that IPL will be scandal free. LOL
BeautifulGame Posted April 24, 2015 Posted April 24, 2015 There is a plan of checking documents as per reports. But if everything ok why IPL GC didn't issued any corrective statement? why CSK management didn't produced evidence? BCCI is obviously a lot about polictics.So its opposed now for the same reason it was passed earlier
bulbul Posted April 24, 2015 Posted April 24, 2015 BCCI is obviously a lot about polictics.So its opposed now for the same reason it was passed earlier But you called it genius :giggle:
yoda Posted April 24, 2015 Posted April 24, 2015 Tax is based on profit generated not paid up capital. You are talking about tax on operating income. I am talking about tax to be paid on gain made when an asset is sold. By claiming the value to be lower than what is paid, they have avoided paying any tax on the gain. Anyways, looks like the whole story was bogus cause the 5 lakhs was not the claimed value of sold company. Yet another BS story revolving CSK just to get a few people wet. First it was spot fixing, then it was match fixing, then it was corruption all with Zero evidence.
Malcolm Merlyn Posted April 24, 2015 Author Posted April 24, 2015 You are talking about tax on operating income. I am talking about tax to be paid on gain made when an asset is sold. By claiming the value to be lower than what is paid, they have avoided paying any tax on the gain. Anyways, looks like the whole story was bogus cause the 5 lakhs was not the claimed value of sold company. Yet another BS story revolving CSK just to get a few people wet. First it was spot fixing, then it was match fixing, then it was corruption all with Zero evidence. Still Srini got the boot from the Supreme Court.:--D
velu Posted April 24, 2015 Posted April 24, 2015 Still Srini got the boot from the Supreme Court.:--D mama gave 0 flying ***** to SC :bandit:
Malcolm Merlyn Posted April 24, 2015 Author Posted April 24, 2015 mama gave 0 flying ***** to SC :bandit: Srini lost BCCI post. Srini to lose ICC post.
Recommended Posts