Tuesday, April 20, 2010

IPL is the route of betting and money laundering

The Indian Premier League’s formation by the top
ranking BCCI’s officials is aimed at only earning
money under the cover of most popular game of cricket
in the country. It has virtually turned out to be a
safe route of betting and money laundering. The
franchisees of IPL teams are earning unaccounted
money. As there is everything opaq in its dealings,
every transaction made in it is known. Black money
has been used in it because it finds easy route of
money laundering. The government has taken the right steps first by
showing the door to Union State Minister for External
Affairs Shashi Tharoor for his alleged involvement in
IPL controversy over stake-holders in newly formed
Kochi Team by IPL . Tharoor is alleged to have
exerted his influence to get stake-holding in Kochi
Team for his girl friend. So, the government first
needs to make provision in such a way as to be every
investment and investor's source of money
transparent.Government has clearly assured in Parliament that no
guilty or wrong doers will be spared and the
department concerned has already started to probe the
alleged route of IPL through which money laundering
and betting are going on unchecked. The nation has the right to know where the money
comes from and who has bought certain owner and stake
holders in the IPL team. BCCI is itself the richest
cricket organisation of the world. It is an
autonomous body so the government does not interefere
in its functioning. But as excessive money is being
earned through the game of cricket, the government
and the nation must know its details.IPL commissioner Lalit Modi has already come under
the scanner of Income Tax authorities. Income tax
authorities have asked the Board for Control of
Cricket in India (BCCI) to respond by April 23 to 10
queries, including the one on income from IPL and its
structure. Since Modi revealed the IPL Kochi stakeholders’ names
on this social networking site, it opened a can of
worms, leading to union minister Shashi Tharoor’s
exit from the goverment and Income Tax raids in IPL
office in Mumbai. The serious question that arises here why Lalit Modi
singled out Sunanda Pushaker, girl friend of the Ex-
Minister of State for External Affairs Shashi
Tharoor, to reveal her name on his social networking
site. Why did he not reveal the details of his family
members (relations) alleged to have stake in the team
Rajasthan Royal of IPL. Every thing must be clear so that murkey financial
deals in the name of the most popular game cricket
should be checked immediately. Lalit Modi is cricket
Czar in India and he can not be absolved of
responsibility of making the IPL a route of betting
and money laundering. The government needs to make
indepth probe and whoever, howsoever, powerful and
well-connected politically must be awarded deterrent
punishment to keep the IPL clean and away from

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