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This is an archive article published on April 7, 2016

Mystery offshore firm was part of 2010 IPL Pune franchise bid, closed days later

Obdurate, registered in BVI, signed MoU with Videocon, Panchshil Group, Saif Ali, Kareena, Karisma.

In a letter emailed to the BCCI last season, its ACSU chief Ravi Sawani listed instances where players and franchise violated operational rules and the Anti-Corruption Code. Representative image. The MoU, part of the Mossack Fonseca records, earmarked 15 per cent share in the consortium for Obdurate Limited, a faceless company in the British Virgin Islands.

A 10-member consortium, which bid unsuccessfully for the Pune IPL team in March 2010, included an offshore company which, according to Mossack Fonseca documents investigated by The Indian Express, was acquired for unknown beneficiaries in December 2009.

“The consortium,” according to the Memorandum of Understanding (MoU) signed by 10 members in March 2010, “have formed a company P-Vision Sports Private Limited in which the parties will invest and own shares in the company for the purpose of operating the IPL franchise on successfully winning the bid”. Click here to read the full story.

Jay Mazoomdaar is an investigative reporter focused on offshore finance, equitable growth, natural resources management and biodiversity conservation. Over two decades, his work has been recognised by the International Press Institute, the Ramnath Goenka Foundation, the Commonwealth Press Union, the Prem Bhatia Memorial Trust, the Asian College of Journalism etc. Mazoomdaar’s major investigations include the extirpation of tigers in Sariska, global offshore probes such as Panama Papers, Robert Vadra’s land deals in Rajasthan, India’s dubious forest cover data, Vyapam deaths in Madhya Pradesh, mega projects flouting clearance conditions, Nitin Gadkari’s link to e-rickshaws, India shifting stand on ivory ban to fly in African cheetahs, the loss of indigenous cow breeds, the hydel rush in Arunachal Pradesh, land mafias inside Corbett, the JDY financial inclusion scheme, an iron ore heist in Odisha, highways expansion through the Kanha-Pench landscape etc. ... Read More

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