Advertisement


Advertisement

Thread Rating:
  • 10 Vote(s) - 2.9 Average
  • 1
  • 2
  • 3
  • 4
  • 5
All IPL teams violated company laws: Khurshid
#1
Advertisement
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.”

Source: Indiantelevision.com

Reply
Thanks given by:
Advertisement
Advertisement




Possibly Related Threads...
Thread Author Replies Views Last Post
  General News: Pro Kabaddi League set to add four new teams nairrk 0 543 03-30-2017, 09:27 AM
Last Post: nairrk
  General News: 2016 Kabaddi World Cup India: Groups, teams, favourites, schedule nairrk 3 979 10-08-2016, 07:41 AM
Last Post: nairrk
  DTH News: CL T20 to feature 4 IPL teams waytobala 0 854 07-05-2012, 02:48 AM
Last Post: waytobala
  Update: Indian Premier League 2012 (IPL 5) Teams and Players List Sathish 2 2,236 04-04-2012, 04:51 PM
Last Post: Kanwar
  Australia may have separate T20 and Test teams Mr.Bhat 2 1,134 06-04-2010, 02:50 PM
Last Post: Mr.Bhat
  Only 10 teams for this year's CL KRISHNASAGAR 0 756 05-24-2010, 04:04 PM
Last Post: KRISHNASAGAR
  $225 million fixed by the IPL for bids to own two new teams. Mr.Bhat 0 1,007 12-23-2009, 03:54 PM
Last Post: Mr.Bhat
  Modi gets his way, 10 IPL teams from 2011 Sathish 0 1,160 12-18-2009, 10:37 AM
Last Post: Sathish
  BCCI expands the field for IPL 2010, adds two teams Sathish 0 1,044 11-17-2009, 10:49 AM
Last Post: Sathish
  BCCI severs ties with IPL event management company Mr.Bhat 0 1,317 08-31-2009, 08:12 AM
Last Post: Mr.Bhat

Forum Jump:


Users browsing this thread: 1 Guest(s)
Advertisement