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Panama Papers: Shell company participated in unsuccessful bid for Pune IPL franchise in 2010
A
shell company registered in the British Virgin Islands was part of a
10-member consortium that bid unsuccessfully for the Pune Indian Premier
League (IPL) team in 2010, according to reports. It is the first link
to emerge between the cash-rich IPL and leaked documents from the
Panamanian law firm Mossack Fonseca.
The Indian Express newspaper
reported that Obdurate Limited, a faceless company set-up in the
British Virgin Islands, was earmarked a 15% share in the consortium in
December 2009. It was shut down soon after the consortium failed in its
bid to buy the Pune franchise. It is not known who the beneficiaries of
Obdurate were.
The IPL is one of the richest sports competitions in the world but it has been riddled in scandals
since its inception in 2008. The Pune-based Chordia family owned a 33%
stake in the consortium, according to the Indian Express. "The
consortium have formed a company P-Vision Sports Private Limited in
which the parties will invest and own shares in the company for the
purpose of operating the IPL franchise on successfully winning the bid,"
the paper quoted a formal agreement signed by the 10 members in March
2010 as saying.
"Obdurate shall be entitled to establish a wholly
owned subsidiary to stand in its place for the purpose of investing in
and holding shares of the company (P-Vision) and entering into the
shareholders' agreement."
Over a hundred media outlets around the
world, coordinated by the US-based International Consortium of
Investigative Journalists (ICIJ), began publishing stories on the Panama Papers — the largest whistle-blower leak in history — on 3 April.
The
leaked documents include emails, banking details and client records
stretching back over 40 years, and detail money laundering and tax
evasion among the world's elite.
The ninth season of the IPL kicks off on 9 April in Mumbai.
It said Daljinder Kaur gave birth to a baby boy at a fertility clinic in the northern Indian state of Haryana, following two years of in vitro fertilisation (IVF) treatment. The report noted that though Kaur doesn’t possess any official paper to justify her age, but doctors at the hospital have registered her age as 72 years. It noted that if Kaur’s age is correct, that makes her one of the world’s oldest woman to become mother.
I believe that we were all sent here for a reason and that we all have significance in the world. I genuinely feel that we are all blessed with unique gifts. The expression of our gifts contributes to a cause greater than us.
The son of former Nigerian military head of state Yakubu Gowon is due to return to Nigeria after spending 22 years in a US prison after being convicted on drug-related charges. It is believed Musa Gowon was released from the Taft Correctional Facility Bakersfield, California, after US President Barack Obama granted him pardon earlier in November.
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