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रविवार, अक्तूबर 10, 2010

BCCI Terminate Rajasthan Royals, Kings XI Punjab From IPL

Indian Cricket Board (BCCI) on Sunday unanimously decided to "terminate" the franchise agreements of Rajasthan Royals and Kings XI Punjab, while sparing the newly-inducted Kochi team.  

According to sources, the BCCI acted after getting legal opinion from the Attorney General of India-- Goolam Vahanvati.

Rajasthan Royals and Kings XI are alleged to have breached franchise agreements on multiple counts.

Sources also say that investigations by Government agencies have revealed massive discrepancies by the two teams.

The Reports from the Enforcement Directorate, the IT and Ministry of Corporate Affairs have nailed Rajasthan and Punjab.

Apart from non-compliance with the Companies Act, the government has has also found alleged FEMA violations by the teams as well as discrepancies in their financial structure.

Team owner of RR Shilpa shetty said that the next course of action would be decided once they get the termination letter since they want to know the reason for this drastic action.

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