On Friday, the BCCI submitted documents asked of them to the I-T authorities within the stipulated deadline. Sundar Raman, Chief Operating Officer (COO) of IPL and P. B. Srinivasan, BCCI's internal auditor, submitted the documents in the afternoon.
Meanwhile, a seven-man I-T team surveyed
the Bombay Dyeing office in Mumbai to recover documents pertaining to the details of investment in Kings XI Punjab. Nusli Wadia, the company’s chairman is one of the owners of the team.
I-T officials said that KXIP is the only team which has inducted foreign equity without approval from the Foreign Investment Promotion Board (FIPB).
“Hence they have also violated the Foreign Direct Investment (FDI) norms which would invite more severe action against them as compared to others," the official said.