IPL money game: BCCI top brass involved

New Delhi: The top brass of the Board of Control for Cricket in India (BCCI) has a role in controlling Indian Premier League (IPL) finances and may have misled the Parliamentary Committee which is probing the league's accounts, revealed CNN-IBN.

The channel has accessed the e-mail records of the BCCI Secretary N Srinivasan, proving him to be the final approving authority on all IPL 2009 bills and tax matters and a clear role of BCCI in IPL financial transactions.

It was also learnt that BCCI President Shashank Manohar assigned control of $10 million IPL-2 fund to treasurer MP Pandove, indicating that Srinivasan and Pandove had a clear role in handling IPL-2 finances.

Read BCCI's IPL 2009 documents here

IPL Tax Consultant PB Srinivasan and CFO P Kannan are also close to Srinivasan.

Shashank Manohar and other top officials were summoned by the Parliamentary Committee and during that enquiry, the BCCI put all the blame on the former IPL Commissioner Lalit Modi, who has been suspended on allegations of corruption.

Contrary to CNN-IBN's revelations, BCCI has told the Parliamentary Committee that it was Modi who took all the financial decisions. But Chief National Correspondent Sumon Chakrabarti investigated and found out that it was the BCCI President, Secretary and Treasurer who had all powers to conduct the finacial transctions in the IPL.

So that raises a question whether Lalit Modi had any power to conduct or approve financial transactions in the IPL and kept the BCCI and IPL Governing Council in the dark.
According to the minutes of BCCI Working Committee meeting held on March 22, 2009, to shift the venue of IPL-2 to South Africa due to the General Elections in the country, the final decision to decide on the foreign venue was vested with board president Shashank Manohar.

Lalit Modi had then requested the IPL Governing Council to open an account of $10 million to stage the IPL in South Africa.
The permission was granted but BCCI President Shashank Manohar clearly stated that the account would be under the control of Pandove and the appropriate resolution to pass this would be drafted by Srinivasan.

Two days later, Srinivasan wrote a letter to Lalit Modi for the $10 million account to be opened in South Africa. Srinivasan made it clear that though bills for IPL 2009 will be approved by the Chairman of IPL, the final authorisation will come from him. Srinivasan also put himself in charge of overseeing the entire operation, including tax matters.

Five days later, on March 30, 2009, Srinivasan also signed the deal with Cricket South Africa to stage the IPL in the African nation.

An email about account status from CFO Kannan, sent a week after the start of IPL in South Africa, was immediately approved by Srinivasan from his Blackberry. Kannan is also rumoured to be an employee of India Cements.

All these documents indicate that Srinivasan was the final authority when it came to financial dealing in the second edition of IPL held in South Africa.



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