Bribery charge: Modi plans to sue Gaikwad

MUMBAI: IPL commissioner Lalit Modi plans to sue Rendezvous Sports World’s Shailendra Gaikwad for accusing him of bribery. In a twist to the Team Kochi controversy started by Mr Modi on Sunday, Mr Gaikwad had on Wednesday told some news channels that Mr Modi had offered him $50 million to withdraw the Kochi bid and allow rebidding for the tenth team in the 20:20 cricket league.

“I will take legal recourse. I am awaiting the clippings (in which Gaikwad had made allegation ). Once I have that, I will serve them legal notice ... possibly tomorrow,” he told ET. Mr Modi had raised concerns over Team Kochi’s shareholding which he later disclosed. Rendezvous Sports World holds 26%; Anchor Earth holds 27%, Parinee Developers and Properties 26%; Filmwaves Combine 12%, Anand Shyam Estates Developers 8% and Vivek Venugopal 1%. Mr Modi later raised question regarding free equity allotted to Rendezvous.

Mr Gaikwad had said this was Mr Modi’s attempt at frustrating Team Kochi’s bid, on behalf of some other bidders who lost. The so called free equity was sweat equity as Rendezvous would manage Team Kochi’s franchise. However, some of Rendezvous’ shareholders seemed unusual candidates. The holders included Sunanda Pushkar, a close friend of Union minister Shashi Tharoor, who allegedly helped the team pick Kochi as its home and Puja Gulathi, the wife of Standard Chartered Bank official Sushen Jhingan , who is believed to have been instrumental in a property deal done by the bank with Parinee Developers that holds 26% in Team Kochi.

Yet, a person familiar with developments said Mr Modi has opened a can of worms. He will find it difficult to prove there is no conflict of interest among shareholders of the existing eight IPL teams. In fact, Mr Modi is associated with at least three teams through family members and friends. Suresh Chellaram, co-owner of the Rajasthan Royals is his wife’s brother-in-law , his stepdaughter is married to the Burman family which co-owns Kings XI Punjab, and his close friends, the Moranis, bought into the Kolkata Knight Riders when IPL was launched, he said.

The truth remains to be unravelled. Mr Modi is expected to present facts before a governing council meeting after this season of the tournament ends on April 25.