IT probes into Mohit Burman's shares in Kings XI

Posted By: Samyuktha
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New Delhi, Apr 29: Preity Zinta's Kings XI Punjab is the latest Indian Premier League (IPL) to come under the scanner of the Income Tax department (IT).

IT officials on Thursday, Apr 29 questioned officials of KPH Dreams Private Limited, which owns Kings XI Punjab. The questioning, which went on for nearly five hours, was in connection with 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.

The sleuths have reportedly scrutinised various accounts documents with respect to the three seasons of the IPL. The officials, who seized some documents, declined to give any further details.

Rubbished all charges, Kings XI co-owner Ness Wadia said, "(I) Do not wish to get sucked into speculations in the media."

"All funds are above the Board and we are co-operating with the investigating agencies," he added.

Actor and part-owner of the Punjab team, Preity Zinta, also said that there are no proxy holdings in Punjab Kings XI and that that suspended IPL Commissioner Lalit Modi is not a secret owner in the Punjab franchise.

It should be noted that Mohit Burman is a relative of Lalit Modi.

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