Saina Nehwal drops to World No. 2

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.

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.

New Delhi, Apr 24: India's World Cup-winning former opener Gautam Gambhir performed the last rites of his deceased domestic help after her mortal remains could not be sent to her home in Odisha due to the coronavirus-forced national lockdown.

Gambhir, also a BJP Lok Sabha MP, posted a tribute on his Twitter page for his employee Saraswati Patra, who was working at his residence for the past six years.

"Taking care of my little one can never be domestic help. She was family. Performing her last rites was my duty," he tweeted.

"Always believed in dignity irrespective of caste, creed, religion or social status. Only way to create a better society. That's my idea of India! Om Shanti," said the 38-year-old Gambhir, who played 58 Tests for India between 2004 and 2016.

Media reports in Odisha said the 49-year-old Patra hailed from a village in Jajpur district.

She was admitted to Sir Ganga Ram Hospital a few days ago and was battling diabetes and high blood pressure for a long period. She breathed her last while undergoing treatment on April 21.

Union Minister of Petroleum and Steel Dharmendra Pradhan appreciated Gambhir.

"Taking care of Saraswati throughout the course of her illness, he also ensured her dignity in death by performing her last rites himself since her mortal remains could not be sent to her family back home in Odisha," Pradhan, who also belongs to Odisha, tweeted.

"His act of compassion will enliven the faith in humanity for millions of poor, who are working far from their home for livelihood and will garner respect from all folds of the society."