The decision to transfer IPL franchise rights of Chennai Super Kings to a new subsidiary Chennai Super Kings Cricket Limited owned by shareholders may be viewed as a maiden step taken by the India Cements Ltd. Board to be seen to be distancing itself and vice-chairman and managing director N. Srinivasan from commercial stakes in BCCI events.
On January 22, the Supreme Court found Mr. Srinivasan in conflict of interest by donning both the caps of BCCI official as well as IPL team owner.
The judgment then went on to bar persons having commercial interests in BCCI events from contesting the cricketing body’s elections, which is due in six weeks from January 22, 2015.
But here the court took another measure.
Besides holding that the ban will hold good until a person sheds his commercial interests, the judgment further suggested that even after a person sheds his commercial interests in BCCI events, he may still have to wait till a Committee set up by the Supreme Court led by former Chief Justice of India R.M. Lodha considered his liability and “awards a suitable punishment.”
Meanwhile, the Justice Lodha Committee has been given an initial lease of six months to complete its tasks.
Read: >SC's full judgment on the IPL scam
>Timeline
- › May 16, 2013: Rajasthan Royals players S. Sreesanth, Ankeet Chavan, Ajit Chandila held on spot-fixing charges
- › May 34: Gurunath Meiyappan of Chennai Super Kings arrested on betting charges
- › June 2: N. Srinivasan steps aside as BCCI president
- › Oct 8: Supreme Court appoints panel headed by Justice Mudgal
- › Feb 10, 2014: Panel indicts Meiyappan for betting
- › April 22: Supreme Court asks panel to continue with probe
- › November 17: Panel says Srinivasan ignored violation of player's code of conduct
- › Jan 22, 2015: Supreme Court absolves Srinivasan of charge of cover-up and misleading the probe committee