Mumbai, Apr 29 (ANI): The Indian Premier League (IPL) team, Kings XI Punjab, has come under the scanner of the Income Tax (IT) Department with respect to Mohit Burman's share in the team.
"Mohit Burman's funds came from London via Mauritius," said IT sources.
"Kings XI Punjab incurred unexpected losses of Rs 70 crore," sources added.
Kings XI co-owner Ness Wadia has rubbished all the charges against the team.
"Do not wish to get sucked into speculations in the media," said Ness Wadia.
"All funds are above the Board and we are co-operating with the investigating agencies," he added.
Preity Zinta, actor and part-owner of the Punjab team has said that there are no proxy holdings in Punjab Kings XI.
Zinta said that she is confident that suspended IPL Commsioner Lalit Modi is not a secret owner in the Punjab franchise.
Modi's relative Mohit Burman, bought into the team at the same time as Zinta and other partners like Karan Paul. Mohit's brother, Gaurav, invested in the team later, said Zinta, and he is not a front for Modi. (ANI)