Parliamentary Standing Committee seeks details on IPL

The Indian Premier League (IPL) saga just got a bit murkier.
A Parliamentary Standing Committee (PSC) in Finance, headed by a Member of Parliament, last week asked all Director General of Income Tax (investigation) to give a status report on the inquiry into the IPL. The report will be heard at the committee’s meeting to be held on June 14 and 15 in Delhi. Sources say a report was sought by the committee amidst allegations of illegal money being routed through front companies set up in Mauritius and Switzerland by Non Resident Indian (NRI) stakeholders of IPL teams.

A PSC is elected or appointed every year or periodically to keep an unremitting vigil over Government expenditure and performance or on matters of general public interest and also entertains representations on matters concerning subjects in the Union List.

Meanwhile, the Income Tax authorities have further broadened their IPL investigations. They have sought details from
companies who lost the bid to submit their stakeholding pattern.

The companies include Adani Group which had bidded for the Ahmedabad team, Videocon which failed to land the Pune team (has already submitted details) and City Corp.

The I-T officials have sought stakeholding patterns and source of funding of all NRI stakeholders like Gaurav Burman, former IPL commissioner Lalit Modi’s son in law.