I-T questions Kings XI co-owner Ness Wadia | cricket | Hindustan Times
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I-T questions Kings XI co-owner Ness Wadia

cricket Updated: Apr 28, 2010 00:27 IST
Manish Pachouly/Agencies
Manish Pachouly/Agencies
Hindustan Times
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The Income Tax (I-T) authorities had briefly questioned Bombay Dyeing's Joint Managing Director Ness Wadia on Saturday in connection with investments in IPL team Kings XI Punjab (KXIP).

Ness had visited the I-T's investigation wing office to submit documents related to KXIP.

His visit to the I-T office came a day after the department's survey at Bombay Dyeing office at Lower Parel to recover documents pertaining to investments and stake holding pattern in the franchisee.

However, during the survey, the officials had not found all the documents. An I-T official said that Ness visited the
office on his own and the dept did not summon him.

"However, we asked him a few questions," the official said.

The KXIP did not respond to a query by HT. I-T officials said that KXIP is the only team which has inducted foreign equity without approval from Foreign Investment Promotion Board (FIPB).

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