Shashi Tharoor’s shielded name of sweat equity holder: Lalit Modi

When contacted,Shashi Tharoor didn't respond to Lalit Modi's allegation.

Written by Express News Service | Mumbai | Published: September 4, 2013 1:43:18 am

The report also carries observations by the former IPL commissioner Lalit Modi about how Shashi Tharoor,who was a Union Minister then,told him not to enquire about the identity of sweat equlity holder in Kochi franchise. It is alleged that Sunanda Pushkar,who Tharoor was to get married later,had 25% sweat equity in the franchise. Also Read: Gavaskar saved Modi from ‘reprimand’

However,on the then BCCI president Shashank Monohar’s insistence,the franchise agreement was signed and sweat equity was reduced to 10%.

The BCCI signed a new franchise agreement with a company by the name of Kochi Cricket Private Limited.

Modi was informed that the owner of the said equity was Sunanda Pushkar. When pressed for further details of her identity,Modi said he received evasive replies one of which was that she was a businesswoman with interests in Gulf.

When Modi insisted on getting a clear answer,Modi alleges he received a call from Tharoor telling him “not to enquire into the identity of sweat equity holder,” according to the findings of the report. Also Read: BCCI panel finds Modi guilty of indiscipline,life ban likely

When contacted,Tharoor didn’t respond to Modi’s allegation.

In his show cause notice reply,Modi has stated that then Indian board president Manohar had called him to inquire about the status of the agreement for the Kochi franchise. Modi had expressed what he calls “certain legitimate questions” about the Kochi bidding,and the identity of this equity holder,but Manohar directed him to sign the franchise agreement which was signed on 11.4.2010.

However,Modi has denied the allegations of arm twisting the UJV (Unincorporated Joint Venture). The Indian board though found him guilty in bid-rigging case and charges were proved.

The BCCI had levelled charges against Modi on the franchise agreement for Rajasthan Royal which they claimed were not signed by the corporate structure the same as proposed in the bid. Modi it is learnt defended himself by stating that as Chairman of the IPL,he was not expected to personally verify that the company that is signing the franchise Agreement is the same that was proposed with the bid document. He contended that this was the responsibility of the IMG.

However,in the case of Kochi franchise,despite being the successful bidder,Modi — the report claims — made a roving inquiry on ownership details of the Kochi franchise at the stage of signing the franchise Agreement.

“He goes out of the way in making intrusive questions about the ownership details of the Kochi franchise” the report reads.

The disciplinary committee hence held that despite there being the successful bidder,the act of Modi in arm twisting the Kochi franchise to leave the franchise was an act likely to be detrimental of the interest of the BCCI and endangered the harmony and affected the reputation of the BCCI.

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