IPL teams get clean chit on accounts' discrepancies

The Institute of Chartered Accountants of India (ICAI) has not found any irregularities in the accounts or violations of auditing norms by some Indian Premier League (IPL) teams, Corporate Affairs Minister Salman Khurshid told the Rajya Sabha on Monday.

The Institute of Chartered Accountants of India (ICAI) has not found any irregularities in the accounts or violations of auditing norms by some Indian Premier League (IPL) teams, Corporate Affairs Minister Salman Khurshid told the Rajya Sabha on Monday.

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ICAI's scrutiny was part of a multi-agency probe launched in April after allegations of financial irregularities and shady deals hit the League.

While the Income Tax department is investigating tax evasion by entities involved in the League, Enforcement Directorate (ED) officials are chasing foreign exchange violations in a maze of transactions linking tax havens and mysterious stakeholders in teams.