'IPL bid made on company official's individual capacity'

Under attack over an IPL bid in which he and his family members have a direct share holding, Union Minister Sharad Pawar on Saturday maintained that the bid was made by a top official of the company in his personal capacity and not on behalf of the firm.

Under attack over an IPL bid in which he and his family members have a direct share holding, Union Minister Sharad Pawar on Saturday maintained that the bid was made by a top official of the company in his personal capacity and not on behalf of the firm.

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Reacting to reports that the board of the company, City Corporation, had authorised the bid on January 31, he said what was relevant was the subsequent resolution of the board in March which he said was "binding".

In that resolution, the company had told that Aniruddha Deshpande, the Managing Director of the company, could bid in his individual capacity and other shareholders would not be there, he said.

He said while giving the bid on March 21, the authorities concerned were informed that there could be some other partners along with Deshpande, if the bid was granted.