Passion for speed takes MS Dhoni into world of racing superbikes

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.

Dubai, Jul 19: On hold for the past two months, the fate of this year's T20 World Cup will be up for a decisive round of deliberation when the ICC board meets virtually on Monday with the BCCI hoping for a postponement to ensure that the IPL can go ahead.

The global event is supposed to be held from October 18 to November 15 in Australia but the country's cricket board had, in May itself, expressed its inability to host amid a second surge of Covid-19 cases in the state of Victoria.

With India's case load also exceeding the 10 lakh mark, including more than 26,000 deaths, the IPL, if it is held, is likely to move to the UAE once the central government gives its go ahead.

"The first step was postponement of Asia Cup, which has happened. We can only start to move ahead with our plans after the ICC announces the postponement. They have been sitting on the decision even after Cricket Australia said that they are not too keen on hosting the event," a BCCI Apex Council member told PTI on conditions of anonymity.

This year's T20 World Cup will likely be held in Australia in 2022 as India doesn't want to swap its 2021 hosting rights with Cricket Australia as of now.

That Australia won't be hosting the mega event was clear after the cricket board told its players to prepare for a white-ball series against England scheduled for late September.

CA has even announced a 26-strong preliminary squad for that tour.

The ICC, on its part, has maintained that it wants to explore all possible "contingency" options before taking a call of such immense magnitude. And it is not unusual for the governing body to wait this long.

"Pakistan was supposed to host the Champions Trophy in 2009. After the terrorist attacks on the Sri Lankan team bus, everyone in their proper senses knew that PCB will never host a big event in distant future," said a source familiar with the functioning of the ICC.

"Yet, ICC deputed its employees in Pakistan for months when South Africa was already preparing to host the event. Everyone knew but a formal announcement of shift took months as threat assessment was part of protocol.

"The ICC couldn't have just postponed 9the T20 World Cup) immediately as initially, the top ministers of the Australian government expressed keenness to host," he added.

The Pakistan Cricket Board has also resigned itself to this outcome after vehemently opposing the Indian board.

The postponement of Asia Cup, which was supposed to be hosted by the PCB, to 2021 was a big blow to Ehsan Mani and his team.

"We have had a lot of discussions and the feeling is it (T20 World Cup) would not be possible this year. ICC has World Cups lined up in 2021 and 2023 so we have a gap year where we can adjust this event," Mani had recently said while talking to reporters in his country.

It has been learnt that PCB is contacting other boards in the hope of finalising some bilateral engagements as the national team has nothing lined up after its England tour.

Nomination process for Chairman's election:

The other issue that is likely to come up for discussion in Monday's meeting is the nomination process for the next independent chairman of the ICC after Shashank Manohar's resignation earlier this month.

It is learnt that there is no consensus on what should be the criteria in case multiple candidates join the fray.

"The board is not united on whether the usual 2/3rd majority to decide will be used (as its in case of policy decision) or the case of simple majority among the 17 board members," an ICC Board member said.

England and Wales Cricket Board's Colin Graves was considered the top contender with BCCI president Sourav Ganguly's name also being floated.

Ganguly's candidature will certainly depend on whether the Supreme Court waives off the cooling off period and allows him to continue as BCCI president beyond July 27 when he completes six years as an office-bearer in the Indian Board's state and national units.

When asked about the possibility of taking up the ICC job in a recent interview, the 48-year-old said he is young and and in no hurry for the position.

New Zealand's Gregor Barclay, Hong Kong's Imran Khawaja, who is currently the interim chairman, are also being talked about as potential candidates.

Jun 19: The BCCI is open to reviewing its sponsorship policy for the next cycle but has no plans to end its association with current IPL title sponsor Vivo as the money coming in from the Chinese company is helping India's cause and not the other way round, board treasurer Arun Dhumal said on Friday. Anti-China sentiments are running high in India following the border clash between the two countries at Galwan valley earlier this week. The first skirmish at the India-China border in more than four decades left at least 20 Indian soldiers dead. Since then, calls have been made to boycott Chinese products.

But Dhumal said Chinese companies sponsoring an Indian event like the IPL only serve his country's interests.

The BCCI gets Rs 440 crore annually from Vivo and the five-year deal ends in 2022.

"When you talk emotionally, you tend to leave the rationale behind. We have to understand the difference between supporting a Chinese company for a Chinese cause or taking help from Chinese company to support India's cause," Dhumal said.

"When we are allowing Chinese companies to sell their products in India, whatever money they are taking from Indian consumer, they are paying part of it to the BCCI (as brand promotion) and the board is paying 42 per cent tax on that money to the Indian government. So, that is supporting India's cause and not China's," he argued.

Oppo, a mobile phone brand like Vivo, was sponsoring the Indian cricket team until September last year when Bengaluru-based educational technology Byju's start-up replaced the Chinese company.

Dhumal said he is all for reducing dependence on Chinese products but as long as its companies are allowed to do business in India, there is no harm in them sponsoring an Indian brand like the IPL.

"If they are not supporting the IPL, they are likely to take that money back to China. If that money is retained here, we should be happy about it. We are supporting our government with that money (by paying taxes on it)."

"If I am giving a contract to a Chinese company to build a cricket stadium, then I am helping the Chinese economy. GCA built the world's largest cricket stadium at Motera and that contract was given to an Indian company (L&T)," he said.

"Cricketing infrastructure worth thousands of crores was created across country and none of the contract was awarded to a Chinese company."

Dhumal went on to say the BCCI is spoilt for choice when it comes to attracting sponsors, whether Indian or Chinese or from any other nation.

"If that Chinese money is coming to support Indian cricket, we should be okay with it. I am all for banning Chinese products as an individual, we are there to support our government but by getting sponsorship from Chinese company, we are helping India's cause."

"We can get sponsorship money from non-Chinese companies also including Indian firms. We can support our players any way but the idea is when they are allowed to sell their products here, it is better that part of money comes back to the Indian economy."

"The BCCI is not giving money to the Chinese, it is attracting on the contrary. We should make decision based on rationale rather than emotion," he added.