Income Tax raids on IPL HQrs in Mumbai
Income Tax officials on Thursday conducted raids on the Indian Premier League (IPL) headquarters located in the Board of Cricket Control in India (BCCI) premises in Mumbai.
According to sources, the raids are being conducted to probe the funding of the IPL teams and the ongoing funds controversy relating to the Kochi franchise. A four-member team of Income Tax Department has gathered information about the funding of IPL teams. The information was sought under sub-section 6 of section 133. of IT Act.
IPL commissioner Lalit Modi rushed to the headquarters after the I-T survey. Modi raised a hornet’s nest by tweeting that Sunanda, stakeholder of Rendezvous Sports who successfully bid for IPL Kochi franchise, was given free stake of Rs 70 crore, because Union MoS for External Affairs Shashi Tharoor is her friend.
This controversy attracted the attention of the Income Tax department and the Enforcement Directorate.