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User_gary Posted 16 years ago
Vocabulary
Benami holdings, proxy holdings
Preity Zinta, actor and part-owner of the Punjab team in the Indian Premier League (IPL) has said that there are no "benami" or proxy holdings in Punjab Kings XI.
When asked whether IPL Chairman and Commissioner Lalit Modi is being made the fall guy for what seems to be a financial grotesquerie, she suggested that he should be given a chance to defend the charges against him.
In an exclusive interview to NDTV's Barkha Dutt, Zinta said, "Please go ahead and clean up cricket. We will support everybody. But don't make random allegations." Zinta also said she has full faith that "the IPL will survive this." (Read: Full transcript of interview)
Sources have told NDTV that Zinta's team, along with the Rajsthan Royals and the Kolkata Knight Riders, are being investigated for proxy stakeholders. Coincidentally, all three teams are part owned by actors.
Please explain to me the emboldened parts.
Source : http://www.in.com/news/current-affairs/fullstory-preity-no-benami-holdings-in-punjab-kings-xi-13653813-097802a8b875a67bce2f5589ccfc8e1d5897dbf8-1.html
When asked whether IPL Chairman and Commissioner Lalit Modi is being made the fall guy for what seems to be a financial grotesquerie, she suggested that he should be given a chance to defend the charges against him.
In an exclusive interview to NDTV's Barkha Dutt, Zinta said, "Please go ahead and clean up cricket. We will support everybody. But don't make random allegations." Zinta also said she has full faith that "the IPL will survive this." (Read: Full transcript of interview)
Sources have told NDTV that Zinta's team, along with the Rajsthan Royals and the Kolkata Knight Riders, are being investigated for proxy stakeholders. Coincidentally, all three teams are part owned by actors.
Please explain to me the emboldened parts.
Source : http://www.in.com/news/current-affairs/fullstory-preity-no-benami-holdings-in-punjab-kings-xi-13653813-097802a8b875a67bce2f5589ccfc8e1d5897dbf8-1.html
Top answer
A "proxy holding" is a holding (an ownership stake) that is held in someone else's name, so as to (presumably) disguise or keep secret the identity of the true owner. I don't know the word "benami". It isn't a native English word.
- A "proxy holding" is a holding (an ownership stake) that is held in someone else's name, so as to (presumably) disguise or keep secret the identity of the true owner.
- I don't know the word "benami".
- It isn't a native English word.
- I assume it's a word borrowed from an Indian language and meaning more or less the same as "proxy".
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1 Answers
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A "proxy holding" is a holding (an ownership stake) that is held in someone else's name, so as to (presumably) disguise or keep secret the identity of the true owner.
I don't know the word "benami". It isn't a native English word. I assume it's a word borrowed from an Indian language and meaning more or less the same as "proxy".
I don't know the word "benami". It isn't a native English word. I assume it's a word borrowed from an Indian language and meaning more or less the same as "proxy".
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