Monday, June 07, 2010

RTI seeks Royals ownership details

ESPN STAR : By Sai Prasad Mohapatra
The Lalit Modi-BCCI spat took another turn when the board filed a RTI to know about the ownership details of Rajasthan Royals.
SportsCenter is in possession of documents which suggest that the Indian cricket board is now seeking ownership details of IPL franchisee, Rajasthan Royals from the Government bodies.
Not satisfied with Modi’s reply that he has no links with the said franchisee, BCCI wants to know the names of the shareholders in Jaipur IPL Cricket PVT. Limited and also the percentage holding of each shareholder.
BCCI also wants to discover the reason for the rejection of Jaipur's equity transfer by their shareholders outside the country through cashless transaction.
Board is also looking whether the Rajasthan Royals had taken necessary permission from the Reserve bank of India for the foreign investment promotion board.
A documented fact says that Modi’s brother-in-law Suresh Chellaram holds 44.1 per cent stakes in the Shane Warne-led Rajasthan Royals. This is the part of the reason why BCCI has suspected Modi of not only having stakes in Royals but also going out of the way to help them.