Forgot Password

 

Register

 

Create your Connect ID

This will allow you to login to all DStv websites & applications




or
Login using
x

Email Reset

 




Loading...
Loading Live Scoring...
*All times CAT (GMT+2)

Cricket | IPL

IPL team fined for foreign exchange breaches



Owners of Indian Premier League side Rajasthan Royals were on Monday slapped with a fine of one billion rupees ($18.8 million) for alleged foreign exchange violations, officials said.

The enforcement directorate of the ministry of finance said it had given the owners, who include Bollywood star Shilpa Shetty and her businessman husband Raj Kundra, 45 days to pay the fine.

"The foreign investment in the franchise was made in flagrant contravention of Foreign Exchange Maintenance Act," the directorate said in a statement.

This is the first major fine imposed on an IPL team by the government, which has been investigating financial and foreign exchange irregularities in the Twenty20 league.

The directorate said as part of its investigations it had already issued 24 notices to IPL franchises and the Board of Control for Cricket in India (BCCI) on foreign exchange violations.

Rajasthan Royals said they were seeking legal advice and would appeal against the order.

"We are discussing the contents of the order with our lawyers and intend to launch a full appeal against the order," it said in a brief press release.

The IPL has become a major event in the international cricket calendar, attracting the world's most exciting players such Kevin Pietersen to entertain large domestic audiences.

But it has also been hit by a series of financial scandals, and its founder Lalit Modi was sacked in 2010 following allegations of corruption and money-laundering.

Rajasthan Royals won the inaugural edition of the IPL in 2008 under the captaincy of Australian spin great Shane Warne, but failed to qualify for the play-offs last year.

The sixth edition of the IPL will be held in April-May.

IPL chairman Rajeev Shukla declined to comment.

Shop

The Proteas
20 Years, 20 Landmark Matches by Neil Manthorp
R171.00
The extraordinary book of SA cricket
The Extraordinary Book of South African Cricket is the perfect gift for any cricket fanatic.
R140.00
Jackers - A Life in Cricket
Robin Jackman has been entertaining cricket followers for more than forty years
R169.00
Bouch
Through my eyes
R147.00


Comments

More expert analysis and opinion from Sport24
The opinions expressed by Sport24 experts and bloggers are theirs alone, and do not necessarily represent those of SuperSport

Sports Talk



Mpumelelo Mbangwa
Number 6 spot a problem or just fine?
Seeing the good in things is not such an easy thing as the tendency for most people is to point out...

Haze's Comment
T20 secrets of success
The wham bam Ram Slam is rocketing your way soon. It all kicks off with a triple-header on Sunday...

Neil Manthorp
Gripping contest atones for Hartal
For two days the whipping boys of international cricket stood toe-to-toe and gave each other a good...

Faf du Plessis
Giving the hip a rest in Cape Town
It’s really great to be back at home in Cape Town, although it is taking a while to adjust to the...

Kepler Wessels
Different game waits against Australia
The New Zealand leg of the one day international tour by the Proteas went according to plan. In...