The ambit of the probe into the T financial deals of the Indian Paisa League widened on Wednesday with Income Tax authorities swooping down on its franchises and three of its event management and broadcast firms. In the glare of the income tax Department were some of Bollywood's biggest names -Preity Zinta, Shah Rukh Khan, Juhi Chawla and Shilpa Shetty, not to omit the country's top industrialists.
The Income tax searches were conducted at different cities, all home to different IPL franchises. Those in the Lalit Modi camp claimed that the searches were aimed at unnerving team-owners, who have
thus far rallied behind Modi.
Simultaneously, the Enforcement Directorate, Mumbai, registered a case against "unknown persons" under the Foreign Exchange Management Act. The Di rectorate is looking into the unauthorized transfer of funds from tax havens without the permission of the RBI.
Those
in the know of things said there was no hidden agenda behind the searches; it was all part of an elaborate exercise to unearth legal violations and corruption. One view is that the raids were felt necessary as the government suspected something fishy in the BCCI calling an emergency meeting of all IPL franchisees in Mumbai on Friday. That too just before BCCI hands over the ownership documents to the IT Department under a notice served last Friday, a top source in the CBDT said.
The IT officials were asked to conduct searches at the offices of the franchisees as also the offices of the main owners. The CBDT has also sought from the Corporate Affairs Ministry the balance sheets filed with the Registrars of Companies by the franchisees and companies of their owners.
The idea is to collect the documents and tally them with the ones the BCCI hands over on Friday.
Source :
http://freepressjournal.in/FPJ/FPJ/2010/04/22/ArticleHtmls/22_04_2010_001_005.shtml?Mode=1 Please explain to me the emboldened parts.
Though I guess "thus far rallied behind" means "so far who supported Modi"