The BCCI on Sunday decided to seek a fresh legal opinion on the controversial “low” valuation of the IPl franchisee Chennai Super Kings when it demerged from its parent company India cements, headed by N Srinivasan.
The decision was taken at a meeting of the BCCI Working Committee after questions were raised about the demerger valuation of CSK post the recent Supreme Court verdict in the IPl case. An amount of Rs5 lakh was recorded as the valuation of Chennai Super Kings's demerger. The issue was also debated at the IPl Governing Council meeting in New Delhi.
IPl COO Sundar Raman was asked a few questions by some of the GC members about the “weird valuation” of the de-merger, as they were paying an annual franchise fee of Rs40 crore and spending Rs60 plus crore as players' remuneration.
“The Committee decided to seek a fresh legal opinion on the demerger and transfer of shares of CSK for further action,” a BCCI release said. Sources said that former BCCI President Shashank Manohar, who attended the meeting as a special invitee, debated the issue with Tamil Nadu Cricket Association (TNCA) Vice President P S Raman.
“Manohar asked Raman by what logic the valuation was done at just Rs5 lakh when the market value is no less than Rs1500 crore,” the source said. It has also been learnt that Baroda Cricket Association President Amarjit Sinh Gaekwad, said to be a supporter of sidelined N Srinivasan, was not allowed to attend the meeting.
greats to find new India coach
Former stalwarts Sachin Tendulkar, Sourav Ganguly and Rahul Dravid will be part of the Committee which will find Indian cricket team's new coach and the support staff. The trio, according to sources, will provide input to BCCI President Jagmohan Dalmiya and Secretary General Anurag Thakur, who were on Sunday entrusted with the job of finding the new coach at the Working Committee meeting of the Board.
“The process to identify the coach and support staff for the Senior National team will be undertaken by the Hon. President and the Hon. Secretary,” a BCCI release said. Zimbabwean Duncan Fletcher's contract ended at the end of the World Cup while former India cricketer Ravi Shastri was the with team in the capacity of Team Director.
It is expected that assistant coaches Sanjay Bangar, Bharath Arun and R Sridhar will be retained. A Working Committee member made it clear that Ganguly will not be in the running for the coveted job even as speculation is rife that the former Indian cricketer is the top contender for the job along with Shastri. “Since Sourav will be in the Committee, he at least technically does not qualify for the job,” the member said.
The Working Committee also authorised President Dalmiya to constitute a cricket advisory committee comprising of prominent cricketers who will share their recommendations on the overall conduct and development of the game.
The Working Committee has decided to recommend batsman Rohit Sharma for the Arjuna award for the year 2015. The Working Committee also paid homage to the departed young cricketers from Bengal, Ankit Keshri, Gaurav Kumar of Jharkhand and the unfortunate victims of the earthquake which devastated Nepal and India.
Kehshri passed away after sustaining a head injury during a CAB senior one-day knock-out match against Bhowanipore SC on April 17. He was in hospital for three days and was showing signs of recovery but died on April 20 after a massive cardiac arrest. The 20-year-old, a talented right-hander, had captained the Bengal U-19 team in Cooch Behar Trophy and was in the 30-member India U-19 probables list for the 2014 Colts World Cup in the United Arab Emirates. He was also playing for Bengal A (U-23 side) in CK Nayudu national Championship.