New Delhi: The Enforcement Directorate (ED) has compiled a comprehensive report after its probe into alleged money laundering by franchisees of the Indian Premier League (IPL) and is likely to submit it by this month end.
Official sources said the directorate had collected important data on individuals and companies, who had invested in IPL teams, from tax havens like Cayman Islands and Mauritius.
The ED’s report is likely to be submitted to the Finance Ministry by the end of this month. The enquiry was aimed at tracing any illegal inflow of black money into the IPL’s T-20 cricket extravaganza.
The “source probe” began in April this year over the controversy on share holdings in the consortium which bagged the IPL’s Kochi franchise.
The controversy had triggered a spat between IPL Commissioner (now suspended) Lalit Modi and former Minister of State for External Affairs Shashi Tharoor.
A copy of the report will also be placed before the BCCI disciplinary committee probing Modi’s alleged financial irregularities, sources said.
The committee comprises interim IPL Chairman Chirayu Amin, senior BJP leader Arun Jaitley and Union Minister of State for Commerce and Industries Jyotiraditya Scindia.
The Bombay High Court had on July 15 rejected Modi’s petition seeking reconstitution of the disciplinary committee. Modi had contended that the committee should be comprised of independent persons as BCCI members would be biased against him.
A suspension order was issued to Modi by the BCCI on April 25 following which he was slapped with three showcause notices.
Modi had responded with a 15,000-page reply to the show cause notices accusing him of financial irregularities and bid-rigging, undermining the world cricket order and all manner of wrong doing related to the IPL tournament.
The disciplinary committee will meet here for the second time on July 27. The committee had its first meeting in Mumbai on July 16.