November 29th, 2011
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ED issues showcause notice against BCCI and IPL

BCCINew Delhi: The Enforcement Directorate issued 19 show-cause notices for foreign exchange contraventions to BCCI.ED has investigated the working of the BCCI and the management of the IPL. Notices have been issued for various FEMA violations that amounts to Rs 1077.43 crore.

According to the probe report, there is prima facie evidence of monopolistic nature of working of the BCCI and the companies involved in awarding media rights during IPL matches. The Income Tax department has conducted inquiries related to tax liabilities of the BCCI and the IPL.

The IPL still owes an overall service tax of Rs 159.12 crore. This comes at a time when Sports Minister Ajay Maken has been pressing for bringing the BCCI under the Right To Information Act. The report has now also been tabled in Parliament.


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