Lalit Modi reveals blueprint of breakaway cricket body to rival ICC

August 10, 2015

London, Aug 10: He is living in exile and facing arrest but that has not stopped sacked IPL Commissioner Lalit Modi from preparing the blueprint for a breakaway governing body for cricket to rival the ICC -- a plan which he claims is the future "world order".

lalit-modiModi, who faces allegations of financial impropriety and is currently based here, said the new body would be affiliated with the Olympic movement and oversee Test and T20 competitions, while scrapping the ODI format altogether.

"We're talking about another cricketing system. There is a blueprint out there, it's got my rubber stamp on it," Modi told the 'Australian Broadcasting Corporation'.

"I have been involved in it. I say it for the first time, I've been involved in putting that (blue)print together. We could take on the existing establishment, no problem. It requires a few billion dollars, I don't think it would be a problem to get that ... into action," he said.

"The plan that I have put together is a very detailed plan, it's not a plan that's come off the cuff, it's been taking years and years and years in the making," he added.

Modi, a pariah in cricket after he was sacked in 2010 as commissioner of the very league he conceptualized, has an arrest warrant against him based on the Enforcement Directorate's allegations.

Modi, on his part, has vehemently denied all charges against him. The controversial administrator said his plan would only fail if the ICC, currently headed by his nemesis and former BCCI President N Srinivasan, carries out reforms.

"I hope that print [the blueprint] doesn't take off. But if the people can't continue, then that print will take off and that blueprint will become the world order tomorrow. I guarantee you that, sitting here today," he said.

Modi said his blueprint comprises a calendar of events to rival the ICC's schedule in Tests and T20 games. "The plan conceives only of Test cricket and T20; it doesn't take into account one-day at all. I think that is completely redundant in today's day and age. I think it should just be T20 and Test matches that should be played," he said.

Modi said the ICC should look to get the International Olympic Committee's affiliation. "I have been proposing that. The ICC will never agree to that; never means never. It is a plan that one day, if I ever implement it, will re-write history in sport. "IPL has re-written history in sport in the way it's marketed. I think this will re-write history once again."

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News Network
June 24,2020

New Delhi, Jun 24: Over 1,500 urban and multi-state cooperative banks will be brought under the supervisory power of the Reserve Bank of India (RBI), said Union Minister Prakash Javadekar on Wednesday.

"Government banks, including 1,482 urban cooperative banks and 58 multi-state cooperative banks, are now being brought under supervisory powers of Reserve Bank of India (RBI); RBI's powers as they apply to scheduled banks will apply for cooperative banks as well," Javadekar said at a press conference, through video conferencing.

"The decision to bring 1,540 cooperative banks under RBI's supervision will give an assurance to more than 8.6 crore depositors in these banks that their money amounting to Rs 4.84 lakh crore will stay safe," he added.

The Minister of Information and Broadcasting further said that the Union Cabinet has approved a scheme "for interest subvention of 2 per cent to Shishu loan category borrowers under Pradhan Mantri Mudra Yojana, outstanding as on March 31, 2020, for one year to eligible borrowers."

The Minister also said that the Union Cabinet has approved the declaration of Kushinagar Airport in Uttar Pradesh as an international airport.

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News Network
May 7,2020

May 7: Two people, including a child, were killed and nearly 70 hospitalised after a gas leak at a chemical plant in Andhra Pradesh's Visakhapatnam in the wee hours of Thursday, officials said.

People in Gopalapatnam area, where the chemical plant, LG Polymers, is located, complained of irritation in eyes, breathlessness, nausea and rashes on their bodies.

District Collector V Vinay Chand said two people were killed due to the gas leak, while some are in a critical condition.

Close to 70 people have been admitted to the King George Hospital after for treatment, he said.

TV channels showed people lying unconscious on roads.

Teams of the National Disaster Response Force (NDRF) have rushed to the spot.

Reports said the gas leak has been contained.

Chief Minister Y S Jagan Mohan Reddy enquired about the incident and directed the Visakhapatnam district collector to ensure proper medical care for the affected people.

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Agencies
March 8,2020

Mumbai, Mar 8: A day after the Enforcement Directorate registered a money laundering case against Yes Bank founder Rana Kapoor and raided his premises, he was taken to the agency's office in Mumbai on Saturday for further questioning.

Kapoor, who was grilled by central agency's officials on Friday night at his Samudra Mahal residence in Mumbai, was shifted to the ED office in the metropolis around 12.30 pm.

ED officials said Kapoor was questioned throughout the night, with some rest time.

A senior ED official connected with the probe told IANS: "Kapoor will be questioned about Yes Bank loans to Dewan Housing Finance Limited (DHFL)."

The official said that during searches a lot of incriminating documents were found and the agency wanted to grill him on his links with DHFL promoters and other companies.

Kapoor's alleged role in the disbursal of loan to a corporate entity and kickbacks reportedly received in his wife's bank account are also under probe.

The ED had filed the money laundering case against Kapoor and raided his residence, apart from issuing a look-out circular so that he does not flee the country.

The ED registered a money laundering case against Kapoor as a continuation of its probe against the DHFL wherein it was allegedly found that Rs 12,500 crore was diverted to 80 shell companies using one lakh fake borrowers. The transactions with these shell companies date back to 2015.

An ED official in New Delhi told IANS that the DHFL probe revealed that funds diverted by the DHFL originated from Yes Bank.

He said that the searches at Kapoor's residence on Friday night were meant to find out any irregularity in grant of loans to the DHFL by the Yes Bank.

The ED has accused Kapil and Dheeraj Wadhawan of DHFL of purchasing shares in five firms -- Faith Realtors, Marvel Township, Abe Realty, Poseidon Realty, and Random Realtors -- after which they were amalgamated with Sunblink.

The outstanding loans of these five firms, totalling around Rs 2,186 crore till July 2019, were allegedly appropriated onto the books of Sunblink to cover up the diversion of loans acquired from DHFL.

The ED's action comes after the RBI superseded Yes Bank Board for 30 days and appointed an administrator, putting a cap of Rs 50,000 on withdrawals by account holders for a month.

The RBI said that the bank's board was superseded "owing to serious deterioration in the financial position of the bank".

Former SBI CFO Prashant Kumar was appointed as administrator of Yes Bank, which has over 1,000 branches and 1,800-plus ATMs across the country.

On Thursday, Union Finance Minister Nirmala Sitharaman said that the bank was on watch since 2017 and developments relating to it were monitored on a day-to-day basis.

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