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All IPL teams violated company laws: Khurshid
MUMBAI: Corporate Affairs Minister Salman Khurshid, in a written reply, told the Rajya Sabha members that all the Indian Premier League (IPL) franchisees have violated the company laws.

The government agencies are investigating in the dealings of the scam-hit IPL, and the Minister said that the government has found violations by all 10 franchisees. He also said that the Registrar of Companies
(RoC) has been asked to take penal action wherever necessary.

“The preliminary information/reports have indicated non-compliance of certain provisions of the Companies Act, 1956, by the IPL franchisees,” Khurshid answered.

Khurshid was answering a query on whether the Government is probing IPL franchisees. However, the details of the violations committed by the franchisees were not disclosed.

The minister named all the eight old franchisees– KPH Dream Cricket (Kings XI Punjab), GMR Sports (Delhi Daredevils), Indiawin Sports (Mumbai Indians), Knight Rider Sports (Kolkata Knight Riders), India Cements (Chennai Super Kings), Royal Challengers Sports (Royal Challengers Bangalore), Deccan Chargers Sporting Ventures (Deccan Chargers) and Jaipur IPL Cricket (Rajasthan Royals) – along with two new franchisees, Sahara Adventure Sports (Sahara Pune Warriors) and Rendezvous Sports (Kochi team), for not complying with the Companies Act.

Khurshid further said that the RoC has been instructed to scrutinise the documents of the companies “under section 234 of the Companies Act, 1956 and take penal action wherever warranted.”


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