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
R171.38
Jacques Kallis
South Africa has produced more great all-rounders than any other country
R176.00
Bouch
Through my eyes
R180.40
Gunn & Moore Epic 808 DXM Cricket Bat
The Gunn and Moore Epic DXM 808 Harrow bat has been carefully developed so that you can get the most from your game
R1919.00


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

Live Video Streaming

Football's Greatest Managers - Mario Zagallo
Gymnastics - Artistic: Men's Pommel Horse Final
SS5
Thu, 31 Jul @ 05:59
Cycling - Time Trial: Men's Individual

Latest Video Highlights

Sports Talk



Faf du Plessis
We're a team that refuse to give in
Greetings from the Maldives – a welcome break after what was an incredibly challenging series in...

Kepler Wessels
King Kallis brings down the curtain
As a package Jacques Kallis has been the best player that this country has produced.

Mpumelelo Mbangwa
Proteas were excellent but spin still a worry
Watching the Proteas in the testing and historically difficult-to-overcome conditions of Sri Lanka...

Haze's Comment
Home pitch advantage is crucial
I hope that groundsmen around South Africa watched the Test series in Sri Lanka. No-one prepares...

Neil in Sri Lanka
Week 4
It is patently absurd to suggest that this Test ‘save’, in Colombo, was better than Adelaide 2012...

Stiaan van Zyl
Sri Lanka Diary
It has been an absorbing few days. We are so focused on this test that there has not been any...