Conflict of interest hounds IPL

Updated: 17 April 2008 06:45 IST

There is controversy over Indian Premier League bidding. At least two BCCI officials also placed bids, leading to accusations of a conflict of interest.

Conflict of interest hounds IPL
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Mumbai:

Mukesh Ambani, Shah Rukh Khan and Preity Zinta are some of the big names that have won bid for cricket teams in the Indian Premier League.

And the money they shelled out is staggering - Rs 436 crore by Mukesh Ambani for the Mumbai team and Rs 312 crore by Shah Rukh Khan who bagged the Kolkata team.

But there is controversy over the bidding. At least two BCCI officials also placed bids, leading to accusations of a conflict of interest.

N Srinivasan was also at the BCCI HQ for the IPL bidding process. But the question was whether he was here as the head of India Cements or as the treasurer of the BCCI.

He is a man who wears both hats and is at the centre of an emerging controversy in the IPL bidding process.

Should a high-ranking BCCI official be associated with a company that has bid and won the rights to own the prestigious Chennai team of the IPL for $91 million?

There could be others too, including another high profile BCCI official. Does this tantamount to a conflict of interest?

"It is a public limited company. I don't own it. There is no conflict of interest," said N Srinivasan, BCCI, Treasurer.

Lalit Modi, the vice president of the BCCI and the head honcho of IPL was grilled on this.

"There is no conflict of interest. Srinivasan is a shareholder," said Modi.

NDTV: Do you have a stake in any of the companies that bid and won the rights?

Modi: No. I have answered that question.

Some of the bidders did raise doubts about the unfair involvement of board members in the process.

Topics : Cricket
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