New Delhi:
NDTV has exclusive details of the questionable murky origins of one of the teams Rajasthan Royals.
In January 2008, the bid for the team was won by Emerging Media Cricket Ltd UK. It paid 2.5 million pounds as earnest money.
However, in April 2008, the contract was signed by Jaipur IPL Pvt Ltd. The Company was only incorporated in March, 08.
In May 2008, the balance bid amount of $77 million was paid by a third company EN Sports Holding Ltd, Mauritius.
In Nov-Dec, 2008: Jaipur IPL Pvt Ltd wanted to offload Rajasthan Royals shares to EN Sports but the Foreign Investment Promotion Board (FIPB), Reserve Bank of India (RBI) denied permission. Despite this, Jaipur IPL Pvt Ltd offloaded its shares funds through a bank to EN Sports.
Let's take a look now at who holds how much stake in EN Sports:
- Tresco International Ltd - Modi's relative, Chellaram: 44.17%
- Blue Water Estate - Shilpa Shetty's husband: 11.74%
- Emerging Media: 32.41%