Anomalies in franchise documents of Rajasthan, Punjab: BCCI chief

Many documents are missing from the IPL and BCCI offices. The Income Tax department has been asking for them but we don’t have them: BCCI Chairman Shashank Manohar. Manohar added that Lalit Modi will be charged on five counts. File photo

Board of Control for Cricket in India president Shashank Manohar on Monday said he found anomalies while examining a few franchise documents that the Board is in possession of. He was specific on Rajasthan Royals and Kings XI Punjab. This is one reason the charge sheet on Lalit Modi is particular about these two franchises.

The following is what Mr. Manohar had to say about the two franchises.

Rajasthan Royals: There was a company called Emerging Media IPL based in the U.K. The company was owned by a single individual Manoj Badale. The company started four months earlier to the bid (in 2008). His bid was accepted. However, the agreement is signed with Jaipur Franchise IPL. There is an interesting fact to be noted. This is a company wherein there were only two stakeholders at the time the agreement was signed. The two stakeholders were one [Fraser] Castelinho and Bal Thakur.

Now the bid is given by A and the document signed by B, who had nothing to do with the bid. Thereafter separate companies that are registered in Mauritius have come. Mr. Modi made a statement that the entire world knows who the stakeholders in the franchises are. But even the members of the Governing Council were not aware. As I said with the Rajasthan Royal franchise, the Jaipur IPL is the main company. Their shares were then sold and transferred from these two persons to certain individuals and certain companies like Tresco and Blue Waters. Nobody knows what is Blue Waters and what is Tresco.

Now, I did not find in the shareholders' register the names of Mr. Raj Kundra and Shilpa Shetty, who claim to be the stakeholders.

And there is a clause in the agreement which is entered into with all the franchises that in case you transfer your shares, the transfer has to be made with the permission of the IPL and the board is entitled to have five per cent of the amount of the transaction as their fees. Now nothing of this has happened. So we are asking an explanation if A gives the bid how do you sign agreement with B? How does all these people get into this? None of us are aware and we don't know which are these companies.

This has come to light because of you people of the media, I am grateful and thankful to you.

Kings XI Punjab: When the bids were given, it was signed only by Preity Zinta. She said she will form a consortium with three people — Mohit Burman, one Mr. Paul (Karan Paul of Apeejay Group) and one other name. When the franchise agreement was signed by her, she did not have a single share in that company. The shares were transferred to her after signing the agreement. Then Mr. Gaurav Burman gets in and the rest. Again the same logic applied you need to have the consent of the IPL and the fee. But nothing once again happened.