The tax noose around controversial IPL boss Lalit Modi seems to be tightening, with the I-T department deciding to step up scrutiny of the ..." />
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Taxmen turn up heat on Lalit Modi, scan 2008 bids


Mangalore Today News Network

New Delhi, April 17 : The tax noose around controversial IPL boss Lalit Modi seems to be tightening, with the I-T department deciding to step up scrutiny of the Indian Premier League (IPL), as well as his own business dealings.

 

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Sources said the tax department is preparing to order a search of Modi’s premises as well as companies which benefited from allegedly shady IPL-related deals.


The decision to "search" will be qualitatively different from the "survey" undertaken by tax officials on Monday and suggests that the I-T department recognizes the need to dig deeper.


Sources said the widening inquiry would cover the first round of bidding for IPL franchises, especially with regard to Rajasthan Royals and Kings XI Punjab ^ the two teams in which Modi’s kin hold big stakes.


Funding routes taken by team owners and controversial IPL contracts ^ including those with multinational event management company International Management Group (IMG), and with Global Cricket Ventures (GCV) for digital and mobile rights of IPL are going to be probed. Modi’s step son-in-law Gaurav Barman is one of the investors in Mauritius-registered GCV.


The tax authorities are also working on a "lead" they have got about a company registered in Iceland and the tax haven of Tycos Island. Though worth just $100, the company boasts huge assets.


Interestingly, government sources indicated that Modi had sought to be appointed honorary consul-general of Iceland, which was nixed.


The I-T department’s deepening interest in Modi, inspite of support from a political heavyweight like Sharad Pawar, could spell serious trouble for him. It could tilt the numbers in the IPL governing council - the body which can decide whether he will continue to have the clout he has wielded as IPL commissioner - against him. Some members of the IPL governing council who happened to be together on Friday for the match between Kings XI and Deccan Chargers at Dharamshala went into an informal huddle after the match concluded.


It will also stoke the demand for greater oversight of IPL affairs. Rajya Sabha will next see three members ^ Shobhana Bharatiya, Rajeev Chandrashekhar and Naresh Gujral - highlighting the bidding controversy. The Special Mention they propose to move says, "The current controversy throws in sharp focus the way IPL bids are being handled and also the perception of non-transparent and potentially illegal activities connected therewith. It appears from the charges and counter-charges being reported in the media that potentially, many investors could be possibly operating as front organizations for owners based in tax havens, whose identities remain undisclosed and secret."


The conduct of Modi’s employees during the visit of I-T officials to his office may have only deepened suspicions, with some of them allegedly trying to spirit away documents the taxmen could be interested in through the back door. The documents were retrieved after taxmen reviewed the CCTV footage of goings-on in Modi’s premises around their visit.


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