BCCI to adopt wait and watch policy on Kochi team investor

Written by: Pti
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Mumbai, Feb 6 (PTI) The Cricket Board, yet to recoverfrom the alleged scams of former Indian Premier Leaguechairman Lalit Modi, has a new problem confronting it withnews reports today saying tax evasion notice has been issuedto one of the investors of its new Kochi franchise by theCentral Government.

BCCI president Shashank Manohar told PTI from Nagpurthat the Board would not do anything, but wait and watch theprogress of this controversial development, for the present.

"We have not been informed directly about this. He(Harshad Mehta) has been reportedly served notice for taxevasion, which is not a criminal offence. We will wait andwatch," said Manohar, reacting to the development that has thepotential to grow into another new headache for the Board.

According to the official website of Kochi IPLfranchise � Kochi Cricket Pvt Ltd � Mehta is among itsshareholders through Film Waves Combine, an investment firm.

"Film Waves Combine is an investment company of MrHarshad Mehta, Senior Partner of Rosy Blue Group, which has aturnover of over 7500 crore and are world leaders in thejewellery industry," is the information given on the website.

The other investors as per website www.kochiteam.com,are: Anchor Earth, Parinee Developers, Rendezvous Sports WorldPvt Ltd, Anand Shyam Estates and Vivek Venugopal.

In fact, after winning the bid for one of the two new IPLteams from BCCI, the investors were wrangling for a long timeand, at one stage, looked like losing the IPL franchise beforethey buried the hatchet and got the BCCI''s go-ahead.

At last month''s players'' auction, Kochi successfully bidfor Team India swing bowler S Sreesanth and Sri Lanka spinlegend Muthiah Muralitharan, among others.

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