Parliamentary panel meeting over IPL irregularities

Last Updated: Sep 21, 2010, 22:05 PM IST

New Delhi: A key Parliamentary panel will on Wednesday discuss the alleged irregularities in cricket board, BCCI and sporting extravaganza Indian Premier League (IPL).

The agenda for the Parliamentary Standing Committee on Finance headed by senior BJP leader Yashwant Sinha includes "foreign exchange and remittance related offences and connected issues concerning IPL/BCCI."

It would also discuss the alleged company law related offences by these top cricketing bodies.

Senior officials from the Corporate Affairs Ministry and RBI have been asked to appear before the committee.

RBI Deputy Governor Shymala Gopinath is expected to be briefing the panel.

The Corporate Affairs Minister Salman Khurshid had said that his ministry noticed non-compliance of the company law rules by all IPL franchisees.

In its July 14 meeting, the panel had sought details from the government on investigations into the alleged tax evasion by BCCI and the IPL franchisees, owners of the high-profile Twenty-20 cricket teams.

The alleged evasion of the service tax for marketing and brand-building by IPL franchisees were also discussed in the previous meeting.

Different wings of the finance ministry are probing the IPL affairs since eruption of a controversy in April over running the annual money-spinning cricket tournament, which has a fair amount of glamour and entertainment.

The row and the face-off between a former Union Minister Shashi Tharoor and suspended IPL Commissioner Lalit Modi led to the government ordering enquiries by its different departments into the affairs of the IPL and the teams owned by business houses and film stars.

In all, IPL has 10 franchisees of which eight are functional. These include the Rajasthan Royals, Kolkata Knight Riders, Chennai Superkings and King`s XI Punjab.

Since the commercialisation of cricket, particularly after the launch of the IPL series, the tax authorities do not consider Board of Control for Cricket in India (BCCI) as sports promotion body entitled for exemptions.

PTI

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