I-T Dept conducts nationwide raids; IPL franchisees feel the heat

[Tom420]

income Tax officials, probing alleged financial irregularities in the cash-rich IPL, conducted raids in all the eight cities that have IPL teams on Wednesday. These include Pune, Kochi, Bangalore, Hyderabad, Delhi, Chandigarh, Kolkata and Mumbai, accoring to media reports.

The Enforcement Directorate and Income Tax officials conducted detailed checks on the financial transactions of all the teams. All these raids were coordinated out of Mumbai.

There were simultaneous raids on the offices of Shah Rukh Khan-Juhi Chawla-promoted Red Chillies Entertainment, which owns KKR, at the Eden gardens and then on Gameplan, a sports management group which looks after KKR's affairs, on Shakespeare Sarani, a posh locality of South Kolkata.

The seven-member I-T team first went to the office of KKR and then to the CAB at the Eden Gardens and examined the papers.

"The income tax officials are here looking for papers related to IPL. We are cooperating with them," CAB president, Jagmohan Dalmiya's personal assistant said.

In Chennai, income tax officials raided the office of India Cements, which owns Chennai Super Kings.

Raids were also conducted at the office of The Deccan Chronicle in Hyderabad which owns the Deccan Chargers.