ibnlive » Politics » News

Jun 25, 2010 at 04:47pm IST

IPL discusses Modi's financial irregularities

Mumbai: The walls seem to be closing in alarmingly around sacked IPL Commissioner Lalit Modi. CNN-IBN learns that in the IPL governing council meeting here on Friday, the members were apprised of Modi's alleged financial irregularities and involvement in the rigging of bids for the original franchise auction in 2008.

While there was a 14-point agenda for the meeting including prickly issues such as retention of players and salary cap, the meeting was dominated by discussions on Modi. The governing council member Farooq Abdullah left little unsaid in his media interaction after the meeting.

The members were presented evidence of swindling in the IPL media rights by Modi and that's not all. There is apparently proof of Modi's involvement in swindling during ticketing and hospitality deals, according to sources.

IPL discusses Modi's 'financial irregularities'

Lalit Modi committed irregularities as the chief of the IPL, finds the governing council meet of the league.

There was also an attempt made to manipulate bids by Videocon and Adani for the new franchises, a move that ultimately did not succeed. Sources said that there are indications that at least three franchise bids before IPL-1 were handed to pre-decided companies and the auction wasn't completely transparent.

Modi had lashed out at BCCI Secretary N Srinivasan on Thursday saying, "I don't accept the legality of any of your suggestions, findings or recommendations. Despite the President having recused himself, you have chosen to decide the matter. It's absolutely clear that as far as you're concerned, you're acting out of malice."