Adani says it's on 'right side of law'; will share bid details

Gujarat-based industrial house Adani today said it was in possession of copies of its bid for IPL franchise and was ready to share it with authorities probing alleged irregularities in the cricket franchise auction.

Gujarat-based industrial house Adani today said it was in possession of copies of its bid for IPL franchise and was ready to share it with authorities probing alleged irregularities in the cricket franchise auction.

HT Image

Adani, which failed to win either of the two franchises put up for auction by IPL last month, claimed no wrong-doing saying it was "on the right side of the law."

Finance Minister Pranab Mukherjee had told Parliament on Monday that departments concerned were looking into all allegations against the Indian Premier League, which runs the hugely famous 20-20 cricket tournament.

There were allegations that bid documents of Adani and Videocon, who were among the bidders for the two franchises that finally went to Sahara and Rendezvous Sports, were missing.

"The copies of the bid documents (of the second round) submitted by us have been retained by us and we are ready to provide the same to the authorities, as we are perfectly on the right side of the law," Adani said in a statement.

Adani said its bid papers for the first round were returned unopened by IPL as the round was cancelled.

"The documents of the second round from all bidders were opened at the ceremony and were retained by IPL. It is normal practice to dispose off the bid documents from unsuccessful bidders after a specified time, in line with guidelines framed by the organisation, normally after the validity of the offer expires, in this case by IPL," Adani said.

The group, however, did not say for how the bid submitted by it last month was valid and if IPL could have disposed it off.

Videocon Chairman Venugopal Dhoot declined to comment on the IPL row.

Allegations of irregularities first surfaced after IPL Commissioner Lalit Modi tweeted details of Kochi franchise's ownership, which included Sunanda Pushkar, a close friend of the then Minister of State for External Affairs Shashi Tharoor.

Tharoor resigned from the union council of ministers on Sunday following allegations that he helped Pushkar get free equity in the team.

Subsequently, authorities including the Enforcement Directorate, Income Tax and Registrar of Companies are probing alleged irregularities in IPL.