Rajasthan Royals (RR) said in statement that the current shareholders of Jaipur IPL Cricket Pvt. Ltd are Emerging Media IPL Ltd (Manoj Badale — 32.4 %), Tresco International Ltd (Suresh Chellaram family —44.2%), Blue Water Estate Ltd (Lachlan Murdoch — 11.7%) and Kuki Investments Ltd (Raj Kundra & family — 11.7%). It has also said that it signed the franchise agreement with the IPL on April 14, four days before the start of the DLF-IPL season one on April 18, 2008.
A BCCI official said changes in the ownership of the franchise had to be placed before the IPL Governing Council for approval and this had not happened and “in the document we have, we find only the name of Manoj Badale. The franchise agreement signed [on April 14] has the names of Fraser Castellino and Ranjit Bharthakur.”
Clarifying “certain misconceptions about the franchise which have been raised through the media,” the RR explained that the structure was completely transparent and in accordance with the regulatory guidelines. The corporate structure was established in accordance with the details provided in the bid submission shortly after the bid. “It was not established prior to the bid, as we obviously did not know if the bid would be successful.”
“No sufficient time”
“Moreover, the time allotted between the Invitation to Tender (December 27, 2007), and the bid submission date (January 23, 2008) would not have allowed sufficient time to incorporate the intended structure with an Indian entity. The investors agreed to submit the bid using a consortium led by the U.K.-based Emerging Media (IPL) Ltd. The other entities in the consortium were disclosed in the bid submission documents.
“Subsequently, on March 8, 2008, an Indian company Jaipur IPL Cricket Pvt. Ltd was incorporated as detailed in the bid submission. We then executed the franchise agreement on April 14, 2008. The ownership of the consortium did not change between the award of the bid on January 23, 2008 and the signing of the franchise agreement on April 14, 2008."
Showing posts with label Rajasthan Royals. Show all posts
Showing posts with label Rajasthan Royals. Show all posts
Wednesday, April 28, 2010
Tuesday, April 27, 2010
Amin new chief of IPL
Mr Lalit Modi, the face of the IPL over the last three years, will cease to remain so following his suspension on Sunday night and the elevation of board vice-president Mr Chirayu Amin as interim chairman of the league.
The BCCI president, Mr Shashank Manohar, waited for the conclusion of IPL-3 before suspending him and issuing him a show-cause notice.
“While we rejoice and celebrate the great success of IPL Season 3, the alleged acts of individual misdemeanours of Mr Modi, chairman IPL and vice-president BCCI, have brought a bad name to the administration of cricket and the game itself,” Mr Manohar said.
“The charges basically are with regard to the initial bids of Rajasthan Royals, Kings XI Punjab. And the second allegation is in regard to the broadcasting deal,” Mr Manohar said. “The third allegation is with regard to the bid-rigging of the two new franchisees. The fourth allegation is with regard to the Internet rights. The fifth is with regard to the behavioural pattern of Modi,” Mr Manohar said.
Meanwhile, Mr Modi put up a brave face maintaining that he was still chairman of the T20 league.
The BCCI president, Mr Shashank Manohar, waited for the conclusion of IPL-3 before suspending him and issuing him a show-cause notice.
“While we rejoice and celebrate the great success of IPL Season 3, the alleged acts of individual misdemeanours of Mr Modi, chairman IPL and vice-president BCCI, have brought a bad name to the administration of cricket and the game itself,” Mr Manohar said.
“The charges basically are with regard to the initial bids of Rajasthan Royals, Kings XI Punjab. And the second allegation is in regard to the broadcasting deal,” Mr Manohar said. “The third allegation is with regard to the bid-rigging of the two new franchisees. The fourth allegation is with regard to the Internet rights. The fifth is with regard to the behavioural pattern of Modi,” Mr Manohar said.
Meanwhile, Mr Modi put up a brave face maintaining that he was still chairman of the T20 league.
Sunday, February 28, 2010
Shilpa Shetty joins Twitter @theshilpashetty
Actor Shilpa Shetty is the latest celebrity to join the micro-blogging website Twitter, which is fast becoming a favourite hangout for Bollywood stars like Shah Rukh Khan and Hrithik Roshan.
The 34-year-old, who has her own blog, joined the networking site on Friday. Shetty, who is also the co-owner of IPL team Rajasthan Royals, used the opportunity to promote her team. "Hello Hello i am the newest inclusion to twitterdom! In London now..IPL Jitters kicking in.Launched the new mascot 'Moochu Singh' too cute!! (sic)," the actor wrote.
Shetty was welcomed by filmmaker Karan Johar, an avid tweeter, who had earlier encouraged Arjun Rampal, Ranbir Kapoor and Shah Rukh Khan to join the website. "Ok...@theshilpashetty in the house and joins the family...give her love!!!," Johar tweeted.
Other Bollywood celebrities on twitter are Abhishek Bachchan, Priyanka Chopra, Mallika Sherawat, Riteish Deshmukh, Preity Zinta, Lara Dutta, Shahid Kapoor and Anupam Kher.
