Income tax authorities have tasked directors general of investigation in Kolkata, Mumbai and Chandigarh to specifically look into the role of suspended IPL commissioner Lalit Modi in three teams — King's XI Punjab, Rajasthan Royals and Kolkata Knight Riders, reports Times of India.
The instructions were issued after scanning of documents seized during raids to look into the murky cross-border transactions and shareholding patterns in IPL franchises. The DG investigation in Mumbai has been asked to question Mohit Burman, a Modi relative and one of the shareholders in King's XI Punjab. Sources said I-T officials have identified a Swiss bank account of Modi's brother-in-law Suresh Chellaram in Geneva. Remittances related to IPL were made using Chellaram's Deutsche Bank account.
Mumbai-born Chellaram is a British citizen. His sudden interest in IPL and use of his accounts in London and Geneva has generated interest among investigators who suspect transaction details from these accounts may help establish links with some BCCI and IPL functionaries.
I-T sleuths are also looking into source of investments in Windy Investment, Colway Investment and Root Investment — the three companies that had made investments in King's XI Punjab. Modi's son-in-law Gaurav Burman is believed to be in control of some of these companies.
Already, I-T authorities have taken out returns of Burmans and their holding companies in India and an attempt is being made to verify if the investments in their Mauritius venture were justified with their declared earnings here.
The Mumbai DG investigation is also coordinating with Enforcement Directorate to get transaction details of IPL related payments made out of Barclays Bank in London and Deutsche Bank (Swiss).
Chellaram's Kabu Holdings Ltd is a British Virgin Island registered company held by Westfield Consultants Ltd where Chellaram and his family members have majority shareholding. Chellaram is believed to have claimed that Kabu Holdings Ltd's funds were generated from the sale of shares in family investments in Nigeria.
The I-T's directorate general of intelligence in Delhi is coordinating with all DGs and is likely to compile a report on investigations. Intricate transactions have appeared while scanning of the financial deals of some of the franchises. Money transfers have taken place through dozens of entities set up in Nigeria, Mauritius, Hong Kong and in some of the British overseas territories and Crown Dependencies such as British Virgin Islands, Isle of Man and Jersey.