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Mar 4: The BCCI has decided to implement strict cost cutting measures with the notable decision being IPL 2020 champions' prize money will be halved as compared to 2019. In a circular sent to all IPL franchises, the BCCI has notified that instead of a whopping Rs 20 crore, the IPL champion team will now receive Rs 10 crore only. "The financial rewards have been reworked as a part of the cost cutting measures. The champions will get Rs 10 crore instead of Rs 20 crore. The runners-up will get Rs 6.25 crore from earlier Rs 12.5 crore," a BCCI notification, in possession of news agency, read.

The two losing qualifiers will now get Rs 4.375 crore each.

"The franchises are all in good health. They also have multiple ways like sponsorships to bolster their income. Hence the decision on prize money taken," a senior BCCI source said.

However, a state association hosting IPL games will get Rs 1 crore each with franchises and BCCI contributing Rs 50 lakh each.

It has also been learnt that mid-level BCCI employees won't be allowed to avail business class flights like earlier times for flying to the Asian countries (Sri Lanka, Bangladesh, UAE) where the flying time is less than eight hours.

Potchefstroom, Feb 4: Yashasvi Jaiswal and Divyaansh Saxena guided India to a comfortable ten wickets win over Pakistan in the ICC U19 World Cup semifinal at Senwes Park on Tuesday and progressed to the final of the tournament.

Chasing 173, Indian openers Jaiswal and Saxena played cautiously and stitched an unbeaten partnership of 176 runs.

The duo built the highest opening partnership of the tournament's history. Jaiswal, the left-handed batsman, scored his maiden century of the tournament as he amassed unbeaten 105 runs studded with eight fours and four sixes.

Saxena scored 59* off 99 balls including six fours. India chased down the total in 35.2 overs. This is the first time in the history of the U19 World Cup that a team won a knockout match by ten wickets.

Earlier, Pakistan won the toss and elected to bat.

Opener Haider Ali and skipper Rohail Nazir's half-centuries guided the side to a respectable total of 172. Ali played a knock of 56 runs while Nazir accumulated 62 runs including six boundaries.

Pakistan did not have a good start as they lost Mohammad Hurair (4) in the second over. Fahad Munir, came to bat at number three, failed to score a single run and was departed by Ravi Bishnoi on a duck in ninth over.

Apart from Ali and Nazir, Mohammad Haris was the only batsman to score runs in double digits. He played an innings of 21 runs off 15 balls. Indian bowlers showed a spirited performance as they bowled out arch-rival in 43.1 overs.

Pacers Karthik Tyagi and Sushant Mishra bagged two and three wickets respectively. Spinner Ravi Bishnoi clinched two scalps and conceded 46 runs in his ten overs.

New Delhi, Feb 5: IPL franchise Kolkata Knight Riders (KKR) has denied any financial dealings with the controversial Rose Valley Group except for it being a sponsor of the side's official jerseys in 2012 and 2013.

KKR issued the clarification after the Enforcement Directorate (ED) attached Rose Valley's assets worth over Rs 70 crore on Monday. The attached assets include Rs 11.87 crore bank deposits of Knight Riders Sports Pvt Ltd, that owns KKR, in connection with a money laundering probe.

The franchise said it hopes for the matter to be resolved expeditiously.

"Rose Valley Hotels was one of KKR's IPL jersey sponsors for IPL seasons 2012 and 2013. Rose Valley had paid KKR an approx. amount of Rs 11.87 crore as sponsorship fees," KKR CEO Venky Mysore said in a statement.

"KKR had no other dealings with the Rose Valley Group including Rose Valley’s micro finance business," he added.

The statement added that in July last year, KRSPL (Knight Riders Sports Pvt Ltd), received a "witness summon" from the ED in connection with an investigation relating to the Rose Valley Group, particularly its micro finance business.

"The ED continues the investigation of Rose Valley. KKR continues to cooperate with the authorities in all respects," Mysore said.

"As part of the investigative process, sometime in October 2019, the ED placed a lien on the said amount earlier paid by Rose Valley to KKR," he asserted.

The directors of KRSPL include Shah Rukh Khan's wife Gauri Khan, actor Juhi Chawla's husband Jay Mehta, Mysore and two others.

Mysore was questioned in this case by ED's Kolkata office in October last year.

Apart from KRSPL, the ED attached properties of two other entities -- Multiple Resorts Pvt. Ltd. and Kolkata's St Xavier's College on Monday.

The ED registered an FIR against the Rose Valley group, its chairman Gautam Kundu and others under the Prevention of Money Laundering Act in 2014.

Kundu was arrested by the agency in Kolkata in 2015 and is in judicial custody at present.

The ED has filed multiple charge sheets in Kolkata and Bhubaneswar courts in this connection and total attachments are now worth Rs 4,750 crore.

The group has been charged by the ED and the CBI with "illegally and fraudulently collecting deposits from public with the intention to cheat them by falsely promising high returns on their investment", thereby perpetrating a ponzi-like fraud.