Rose Valley sponsored players' jersey; no other dealing with them: KKR on ED action

News Network
February 5, 2020

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.

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March 7,2020

Melbourne, Mar 7: He will be supporting Australia for sure but former pacer Brett Lee feels an Indian victory in Sunday's T20 Word Cup final could be a "start of a major breakthrough" for the women's game in the cricket-mad country.

India and Australia will lock horns in what is expected to be a blockbuster title clash at the Melbourne Cricket Ground.

"As an Australian, I'd love nothing more than for (Meg) Lanning's team to do the job. But if India were to win the World Cup for the first time, victory would do so much for women's cricket in a country that already adores the sport," Lee wrote in an ICC column.

"This could be the start of a major breakthrough, particularly with the amount of talent that is coming through."

The former speedster said Australia will have to look for ways to counter the in-form 16-year-old Shafali Verma.

"In Shafali Verma, India boast one of the most talented players in the world and you feel that for Australia to win the game, dismissing her will likely be their first job.

"I've been so impressed with the opener - it's staggering to believe she's only 16 with the confidence she has in her own ability and the way she strikes the ball so cleanly.

"She's such good fun to watch and I'm not sure the women's game has seen anyone like her for such a long time."

Shafali has been the star of the tournament, having amassed 161 runs at a strike rate of 161, consistently providing India solid starts, and that was not lost on Lee.

"To be the world's best T20 batter already shows just how far she has progressed in such a short space of time and the experience in this tournament will hold her in good stead for years to come.

"Even with the way she's played in Australia and her fearless brand of cricket, you still get the feeling she has more to come as well."

He reckoned Shafali may have another big score awaiting her.

"She's got a big score in her locker and there's probably no better place to do that than the MCG. Shafali is already a record breaker but if she can steer her side to their first Women's T20 World Cup title at just 16, then the sky really is the limit for her career."

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Agencies
April 12,2020

London, Apr 12: Former Formula 1 legendary driver Stirling Moss died at the age of 90 on Sunday.

"All at F1 send our heartfelt condolences to Lady Susie and Sir Stirling's family and friends," Formula 1 said in a statement.

Often referred to as the greatest driver never to win the world championship, Moss contested 66 Grands Prix from 1951 to 1961, driving for the likes of Vanwall, Maserati and Mercedes, where he famously formed a contented and ruthlessly effective partnership with lead driver Juan Manuel Fangio.

In his 10-year-long stint at the tracks, Moss took 16 wins, some of which rank among the truly iconic drives in the sport's history - his 1961 victories in Monaco and Germany in particular often held up as all-time classics.

Moss won the 1955 Mille Miglia on public roads for Mercedes at an average speed of close to 100mph, while he also competed in rallies and land-speed attempts.

Following an enforced retirement from racing (barring a brief comeback in saloon cars in the 1980s) after a major crash at Goodwood in 1962, Moss maintained a presence in Formula 1 as both a sports correspondent and an interested observer, before retiring from public life in January of 2018.

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News Network
May 28,2020

New Delhi, May 28: India is not at risk of losing hosting rights for next year's Twenty20 World Cup despite its cricket board's failure to secure a tax exemption for the event, a key BCCI official has told Reuters.

Tax exemptions for International Cricket Council (ICC) events are listed as a requirement in host agreements and the BCCI was supposed to confirm they had secured one by May 18.

ESPNcricinfo, citing correspondence between the two bodies, has reported that the ICC has threatened to shift the tournament away from India over the issue.

However, BCCI treasurer Arun Singh Dhumal told Reuters that would not happen and that negotiations were continuing.

"There is no risk to the tournament," he said by telephone.

"That is a work in progress. We are discussing it with the ICC and we'll resolve it."

The BCCI encountered a similar problem when it hosted the event in 2016 when the government refused to provide a tax exemption, and there has been no change in New Delhi's stance despite the board's appeals.

Failure to secure that exemption in 2016 saw the ICC withhold an equivalent sum from India's share of revenue from the governing body's grants and it appears to be taking an even harder line this time around.

"There are certain timelines within the agreements that we collectively work towards to ensure we can deliver successful world class events and continue to invest in the sport of cricket," an ICC spokesperson told Reuters.

"In addition to this the ICC Board agreed clear timelines for the resolution of the tax issues which we are guided by."

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