Jhakas | Sanjay Jha
During the razzmatazz of the Commonwealth Games opening ceremony I could not help tweeting that when the tax-haven ( usually misused for ill-gotten wealth) Cayman Islands team did their march-past , I would not have been surprised if former IPL big- daddy Lalit Modi would be their chief flag-bearer. It is hardly astonishing either that on a day when Indian hockey players made a phenomenal comeback to beat England in the CWG semi-finals , four gutsy Indian women dared to fly against the wind and towards the finish line to capture the 4 x 400 m relay gold, or when Sachin Tendulkar hit a masterful double hundred and India sighted another series win against former behemoths Australia, it was still Lalit Modi and his unending unrighteous grocery-list of scandalous acts that still competed for national headlines. You have got to give it to Modi, whether he is in Honolulu, Hawaii or Honduras he sure keeps the world fairly occupied. No torpor for this man, who is now a loose cannon torpedoing one and all with effortless abandon. The legend of the former IPL Commissioner continues unabated like that of the Ghost who walks.
Clearly, BCCI honchos love their Sunday morning brunch. Last week-end, the BCCI suzerainty ensured that Rajasthan Royals will be stripped off their princely pretensions , while Kings XI Punjab were told to voluntarily abdicate their throne with immediate effect; the dismissal was to say the least unceremonious, an experience that neither Ms Shilpa Shetty or Ms Preity Zinta were accustomed to in their private fiefdom till then. Perhaps BCCI was also mighty upset at their arrogant suffixes relative to their other contemporaries , maybe Rajasthan should have called itself Rajasthan Rascals or Punjab as the Punch-Drunk Punjab XI. But to get back to the "business end of the story" Continue reading below
( the latest catchphrase of the commentary box), India's cricket overseers belatedly woke up to some serious action. Enough is enuff, indeed, they said in a belligerent chorus.
The reactions from the jet-set owners on hearing that their flawed franchise contracts were summarily terminated was characteristically one of shock and awe ( read awful). A gentleman going by the name of Raj Kundra complained that he will now add millions to the treasury coffers of that slippery breed-lawyers. And Manoj Badale of RR sniffed a pomfret frying in the pan from the cool climes of London. Modi , of course, was not unexpectedly devastated that his bellicose opponents in the BCCI board had checkmated his grandiose plans. Vendetta, roared everyone. Modi's staunch supporter, Mr Vijay Mallya of the Royal Challengers appeared mighty piqued. Everyone seemed ready for a pugilistic exchange. On that hot October afternoon, suddenly the IPL late-night parties of April-May seemed like a distant non-event.
In between, the usual comic elements that so embody the BCCI reached a crescendo so loud even David Dhawan-Priyadarshan combine would have felt threatened. Out of the blue, an "SMS leak" controversy erupted. The august Boards' future President Mr A Srinivasan had apparently sent a brusque warning to all franchise owners with a diabolical tenor that would have even impressed underworld don Dawood Ibrahim. I am not sure if Mukesh Ambani was equally thrilled though.. The franchisees, now trembling with brooding fear, protested collectively in their designer outfits at K Jo's fashion show. Srinivasan blamed computer hackers and talked of cyber policing issues; the Y2K bug may have made a discreet return via Srinivasan's mobile gadget.
But there are several instances of amateurish handling of the IPL scam which remain largely unanswered.
1) Since most of the promoters of the two sacked franchisees RR and KXI Punjab had a corporate background , why did they ignore basic statutory regulations? This is kindergarten stuff we are talking about , so why did they not comply with standard norms from the very beginning of the enterprise? Or were they supercilious or naïve enough to believe that with Lalit Modi being the big boss, they could do as they pleased ?
2) Who were the " real owners" behind several obscure foreign-listed shell companies and how did they fund the franchise shareholding? Were the franchise owners aware of their " benami" partners, and if so, why did they not make suitable disclosures?
3) As the IPL Commissioner till sometime ago, what was Mr Lalit Modi doing to ensure a transparent management ? Who asked him to explain certain obvious discrepancies from the BCCI?
4) What was the IPL Governing Council really discussing in its meetings?
5) Why did the BCCI deliberately remain in such a silent stupor for so long?
6) Is it because the Enforcement Directorate and Income Tax have discovered cases of money laundering and foreign exchange violations that the BCCI has woken up to last minute damage control? Can it really disown its moral responsibility for being equally guilty and culpable for allowing the sordid saga to escalate to these alarming levels?
7) Did the BCCI knowingly ignore RR and KP XI stink involving blatant conflict of interest as it had conveniently circumvented regulations to get Mr A Srinivasan to own the Chennai Super Kings XI ? Was it a quid pro quo, deal?
8) Let us face facts ; the IPL for franchise owners was at best a commercial investment , like any other financial instrument. But remember, a high-return stock comes with matching high-risk, right? Thus, if they have a dead asset in their hands now, they should not appear wholly stumped, should they?
9) From a pure commercial standpoint, most of the franchisees were going hoarse screaming about their huge windfall profits on their IPL ownership from Y 2008 itself . In that case, what are they complaining about ? . They should treat their IPL investment as a speed-money venture that boomeranged. But better still for them, of their own admission they have made a quick -buck and are also making an early exit. That is smart strategy.
10) Should the BCCI have given the franchisees a clear categorical show-cause notice with a time period stating that failure to address ownership-funding issues will result in their prompt termination ( like they have done to Kochi) ? Since it did not, does it raise a sneaking suspicion that they were " advised " to do so before some colorful material hits the ceiling fan?
11) Does a long drawn-out legal battle mean that IPL 4 is now standing on weak-knees and could require a major transplant? Will a messy wrangle-tangle ensure that in the summer of 2011 IPL's fourth birthday celebrations might just be given a miss?
Whatever happens in the weeks and months ahead, there is no denying that IPL sticks to its quintessential promise----it entertains, even off the field. But it will help if the process of purging the IPL of its numerous imperfections is not procrastinated.
