IT conducts search at IPL telecaster's office

Posted By: Staff
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Mumbai, Apr 21 (ANI): The Income Tax (I-T) Department is conducting searches at the office of Sony's Multi Screen Media (MSM) and the World Sports Group (WSG) since the morning.

Searches are on at four offices of MSM and WSG.

Both MSM and WSG handle telecast rights for the Indian Premier League (IPL) and the search is conducted in connection with the facilitation fee allegation.

The WSG had initially bagged IPL telecast rights, which were later given to MSM.

It has been alleged that MSM paid WSG a facilitation fee of 80 million dollars for this, a deal in which the IPL was allegedly involved.

On April 15, income tax officers searched IPL commissioner Lalit Modi's offices in Mumbai.

The government now seems to have put the investigation on the fast track.

The Enforcement Directorate (ED) has registered a case against the IPL under the Foreign Exchange Management Act (FEMA) to conduct an open inquiry into transfer of foreign funds.

The case was registered after there were strong indications of funds coming in from Mauritius and the Cayman Islands.

The ED has already sought the assistance of Mauritius to trace funds transferred by IPL franchises.

Reports also suggest the ED officials are heading to Mauritius to trace the source of funds. (ANI)

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