No evidence of sweat equity so far: Khurshid

The government said only four of the 10 IPL teams, including Chennai and Bangalore, have given details of equity holdings and it had not found any evidence of sweat equity allotted by them.

The government said only four of the 10 IPL teams, including Chennai and Bangalore, have given details of equity holdings and it had not found any evidence of sweat equity allotted by them.

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As many as five teams have also given their balance- sheets to Registrar of Companies and nothing "unnatural" was found in these, Corporate Affairs Minister Salman Khurshid told reporters here. After a meeting with regional directors of RoCs, who gathered information on shareholding pattern, balance-sheets, etc, of the franchises of each IPL team, he said none of the four teams, including Delhi and Hyderabad, were found to have offered sweat equity to anyone as of now.

Others, including Team Kochi that was acquired early this year by a consortium led by Rendezvous Sports for over Rs 1,500 crore, are yet to submit the details of equity pattern.

The government has also given a deadline of May 3 to three teams — Rajasthan Royals, Kings XI Punjab and KKR — to file balance-sheets and other related details.

Twitter is becoming a valuable first source of information for journalists and information seekers, and nowhere has this been more evident than in the IPL saga.

Sandwiched between a number of tweets about statistics related to the recently concluded tournament was the latest bit of juicy information. Rajdeep Sardesai (@sardesairajdeep), Editor-in-chief, CNN-IBN, tweeted a response to Modi’s stats that read, “@LalitKModi good to see you play quizmaster on twitter. Safer than tweeting sweat equity!” Modi responded saying, “@ sardesairajdeep that was your advise... except you told me to break my silence with you... so just reflecting on the season.”

That was when Sardesai suggested that Modi ‘should bring out a book on the best of IPL/ tv documentary on making of the IPL.’ Modi jumped at the idea, saying it would keep him busy, and that he will start work on it immediately. “Don't know if I have journalistic skills.”