It's a Royal mystery
Shilpa may be the glam face of Jaipur IPL team but who owns it? For all of Shilpa Shetty's tweets, neither she nor her husband Raj Kundra may own any stake in the Rajasthan Royals team. The ownership of this controversial team is still under cloud. The income tax (I-T) department and the enforcement directorate investigating the source of funding of the team have come across transactions that violate several foreign exchange regulations and Reserve Bank of India (RBI) guidelines. The I-T department has found that Manoj Badale, a UK citizen whose company Emerging Media won the bid for Rajasthan Royals, remitted deposits into Board of Control for Cricket in India- Indian Premier League (BCCIIPL) accounts in January 2008. The franchise agreement, however, was signed in April 2008 by Jaipur IPL Pvt Ltd that claimed the deposits made by Badale as its own. Another company, EM Sporting Holdings Ltd in Mauritius, paid the balance deposit to the BCCI-IPL in May 2008. >> Read more....
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