IPL: Raids on investors to exit Kochi team

New Delhi: The IPL controversy has taken another twist. CNN IBN has learnt that the Gujarati investors of IPL Kochi are being pressured to pull out. Two Gujarati investors Mukesh Patel of Shree Ram Vessels and Vipul Shah of Parinee Developers, were raided by Income Tax department earlier this week. Parinee holds a 26% stake in IPL Kochi and is a special purpose vehicle of Shree Ram Vessels.

Political fallout of Kochi saga:

Union Minister of State for External Affairs Sashi Tharoor is likely to meet Congress President Sonia Gandhi and senior leader Pranab Mukherjee on Thursday to clear the air on the Kochi team controversy even as the Left want the minister from Kerala sacked and a probe into the entire issue.

"There should be appropriate inquiry and the minister should step down until he's cleared," says veteran CPM leader Brinda Karat. Former Samajwadi Party leader Amar Singh also agrees with Brinda, saying the source of the money behind the IPL Kochi team should be revealed.

However, Amar Singh differed from Karat on continuing of Tharoor as a minister. He said: "If Tharoor has not misused his official position, then there is no harm in having friendship with a beautiful woman. It is necessary to have transparency in public life. Investigations should be done to know the source of money. Pappu ke pichche papa kaun hai. I have no information about Sahara."

Senior Congress leader and Union Broadcasting Minister Ambika Soni says: "There should be transparency in all public dealings. Country wants transparency in all commercial activities."

On transparency, Kochi team spokesperson Satyajit Gaekwad says: "Rendezvous Sports has nothing to hide. Some of our franchisees were pressured by powerful people to shift base out of Kochi. It seems Narendra Modi and Lalit Modi have become a Modi square. They are trying to target us."

Even Union Sports Minister MS Gill says there should be accountability in the IPL. "According to institutional laws there should be accountability in the IPL."

More trouble for all IPL teams:

CNN-IBN has learnt from Finance ministry sources that all the IPL teams will be coming under the IT department's scanner now. The department prepares to probe into tax returns of all franchisees. Of course, it started with the probe of funding of the IPL Kochi franchise.