The business of… the IPL scandal
The Indian Premier League was set up in 2008, and is now worth a cool $4 billion. But its fate is in the balance following recent allegations of corruption, fraud, and match-fixing.
May 2, 2010 12:23 by Katherine Azmeh
Stephen Fleming (pictured), the former New Zealand cricket captain has been called the game’s greatest captain. But that didn’t help Fleming avoid the scrutiny of tax officials earlier this month when Indian Enforcement Directorate officials reportedly raided the offices of four IPL teams, including the Chennai Super Kings, of which Fleming is the current coach.
Tax authorities were allegedly searching for information related to ownership, player salaries, and perks. The other teams reportedly targeted in the investigation include the Kolkata Knight Riders, the Deccan Chargers, and Kings XI Punjab in Chandigarh.
There is no suggestion that Fleming was accused of any wrongdoing.
HSBC Q1 profit falls 14 per cent as market remains uncertain
UAE non-oil business slows in April as employment stalls
UAE – Jersey trade relations: from a tax haven to taxonomy
No fines for negative comments on economy, Dubai confirms
UAE and Azerbaijan discuss economic, trade ties