I-T searches in companies associated with IPL

Mumbai, Apr 21 (PTI) The Income Tax Department
Wednesday searched the premises of companies associated with
the Indian Premier League (IPL) in the wake of allegations
that telecasting agency Multi Screen Media had paid a
facilitation fee of USD 80 million to marketing agency World
Sports Group.
The searches, which started this morning, were on in
the office premises of Multi-Screen Media (MSM) in suburban
Malad, the telecasting agency of IPL, World Sports Group
(WSG), the marketing agency of IPL, International Management
Group (IMG), the organising agency, and the Bandra house of
Venu Nair, CEO of WSG.
The raids are related to a "facilitation fee" of USD
80 million paid by MSM (formerly Sony Entertainment
Television) to WSG, a source close to the development said.
A group of more than 20 I-T officers are participating
in the raid, the source said.
Faced with the allegation, WSG had Tuesday claimed
that it had done no wrong and would take appropriate action to
uphold its reputation.
"Any allegation that WSG has used any funds received
in connection with its sub-licence of these rights for
inappropriate or unlawful activities is completely unfounded
and without substance," World Sports Group (WSG) had said in a
statement.
In 2008, WSG bagged IPL television rights for 10 years
with a USD 918 million bid and a promise to spend USD 108
million on the event. It also signed a deal with MSM making
Sony the official broadcaster.
However, two months before IPL-2, the deal was
scrapped. It was recast with MSM agreeing to pay USD 1.63
billion for nine years. (MORE) PTI SIB
MRD


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