I-T questions Kings XI co-owner Ness Wadia
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). Manish Pachouly reports.cricket Updated: Apr 28, 2010 00:27 IST
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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Moreover, the website still mentions Modi as the Chairman and Commissioner of IPL Governing Council and lists out his achievements despite having been suspended by the Board of Control for Cricket in India (BCCI).
On its homepage, the IPL continues to have a 'Modi Tweets' column, which continuously updates all his tweets.
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In a statement, they said, "The Rajasthan Royals franchise bid was successful, with full compliance of BCCI guidelines. Full details of the consortium bid structure and the way the company would be set up were contained in the original submission to the BCCI in January 2008."
Advertisers may snap association with IPL
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