Modi launches bid to clear name in IPL bribery probe

LALIT MODI stood his ground last night after being suspended from his role as chairman of the Indian Premier League amid allegations of corruption.

Modi was ousted by the Board of Control for Cricket in India (BCCI) just hours after the conclusion of the third IPL tournament in Mumbai on Sunday night.

Vice-president of the BBCI, Chirayu Amin, was subsequently appointed interim chairman by president Shashank Manohar, who then vowed to conduct a thorough investigation into the running of the tournament.

“The IPL is a great property and commercial aspects in certain events is an important thing,” Manohar said. “However, ethics and transparency is more important.

“In the last 15 days there have been a lot of allegations and counter allegations made in the media as a result of which the board has looked into the allegations which were levelled. It took a decision to issue a show-cause notice to Mr Lalit Modi and, pending inquiry, decided to suspend him.

“We have asked Prof Ratnakar Shetty [chief administrative officer], to look into all the records because many of the documents are missing from the offices of the IPL and the board.

“Everyday the Income Tax department is asking for documents but we don’t have them in our custody. Therefore Prof Shetty will look into all these aspects in connection with the documents.”

Modi, however, remained defiant last night, insisting he was still chairman and hinted his intention to prove his innocence.

Commenting on Twitter, he added: “Thank you all for your message of support. It is really appreciated. I am still chairman of IPL. Just suspended. Wait – we have just begun.”

Modi has now been given 15 days to respond to the show-cause notice and produce proof to clear his name. If his does, then Manohar has hinted that all charges will be dropped and Modi will be reinstated.


How did it all begin?
The furore erupted after Modi revealed on his Twitter page that Shashi Tharoor, a junior Foreign Minister, had given a close female friend, Sunanda Pushkar, a £10m stake in a new IPL franchise, Kochi. Opposition MP’s alleged that Tharoor abused his authority to acquire the stake, forcing him to resign, even though he denied the claims.

What happened then?
Tharoor alleged that Modi leaked the information to favour a rival bidder with the franchise itself alleging that Modi offered them $50m (£32.3m) to abandon their bid. Modi rejected the claims but this, in turn, prompted the Indian government to order an investigation.

So what now?
Modi has been suspended by the Indian Cricket Board amid allegations of corruption while tax officials continue their investigation into the affairs of Modi, the IPL and the board. This could go on for some time but at the same time it’s up to Modi now to prove his innocence.

Cricket-mad Deutsche Bank boss Jain off-loaded 10 per cent Mumbai stake

A CRICKET-MAD millionaire City boss will be glad he ended his association with the Indian Premier League after selling his stake in IPL finalists, the Mumbai Indians, last year.

It emerged just last week that Anshu Jain, co-head of Deutsche Bank’s global investment bank, who earned £8.4m last year, had sold his 10 per cent share in the franchise, for no gain, to the team’s largest shareholder, Mukesh Ambani – chairman of the Indian conglomerate Reliance Industries and the richest man in India with a personal fortune of £19bn.

Indian-born Mr Jain is a regular visitor to Lord’s cricket ground and is also the captain of the Deutsche Bank team.