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The Curious Case of Lalit Modi: IPL Controversy

Since the start of the IPL-1, back in 2008 it's been making news in some or other way. Some times good and most of the time bad.  I still remember the first controversy started was with the Cheerleaders and many more common and uncommon allegation against it.  Now it has back in the news, but that's not for the earlier reasons, but for an new and very complicated reason.
Lalit K, Modi, the "Former" Chairman and Commissioner of IPL, yes former! He is been suspended from the chairman of IPL(Indian Premier League) Position just after few hours of the Final game of IPL-3, 2010.  Recently which ever news channel I tune into, I see only IPL, BCCI, Lalit Modi, Shashi Tharoor, and other politicians names involved with IPL.

What Exactly happened? Why Lalit Modi is been suspended? How the controversy started? What's Next?
The BCCI (Board of Control for Cricket in India) has charged a total of 22 cases against 46 years old Lalit Modi, Suspended Chairman and Commissioner of IPL, and also Vice President of BCCI. 

Before knowing what are those, I thought of telling you How this IPL controversies started? suddenly, even before the end of the season 3? 
Lalit Modi, who is on Twitter and tweet regularly, tweeted on April 11, 2010 the shareholder details of the Kochi IPL.
Team franchise owners Rendezvous Sports World (RSW) Group,  one of the two new IPL teams which are going to play from IPL 2011.  Disclosure of these details was against the agreement. 

But, what made the IPL commissioner to take this step?
He mentioned that an Union Minister has asked not to get into details of Sunanda Pushkar, who was issued a free equity of 18% approximately which is of Rs.70 Crores worth in RSW Group. Now who is Sunanda Pushkar?

Sunanda Pushkar one of the shareholder in Kochi IPL team, is said to be having and affair with Shashi Tharoor, Minister of State for External Affairs.  The question been raised, from where Sunanda Pushkar invested so much money, Did she acting as an proxy to Shashi Tharoor in the shares?
 
Then the whole limelight was shifted on Shashi Tharoor, who later resigned on the pressure from the opposition who was alleged for misuse of office power indulging in IPL Kochi team negotiations for an sweat equity for his so called girlfriend Sunanda Pushkar, but claimed that he has no role in this issue? 

Is Shashi Tharoor guilty? What are mistakes he did?
Shashi Tharoor, who was an bureaucrat in the United Nations who won from the Thiruvananthapuram, Kerala constituency with and majority votes, has never understood the Congress culture and was living as an International bureaucrat. Major mistake he did was making embarrassing statements on ministry he holds and stated "Economy class as the Cattle class", was not acceptable by the party as apparently they are voted by those so called cattle class Mango man(Aam admi) and more on not being maintaining an good rapport with the senior offices, the result was when he was in trouble no one supported him. 

Here are the few allegation against Lalit Modi by BCCI.
There is an amount of Rs 400 crore, which was gone to some middleman, who are they?
Charged against Betting & Laundering of money.
Involvement in Match Fixing, Bid Rigging(In Kochi and Pune teams), and Illegal dealings.
There were Financial Irregularities, since the bids were given on Companies Name, but there are given to Individuals eq., Preity Zinta. 
More stress on Broadcast Deal? As there is been $80 Million been paid by MSM (Multi Screen Media), the Telecasting Agency as "Facilitation Fee", what is this Facilitation fee?
IPL TV Rights has bagged by the Worlds Sport Group(WSG) for the period of 10 years for an amount of $918 Million and further $108 Million for promotion activity. Where MSM signed an deal with Sony official broadcasting to telecast the live matches.

What these all as resulted in?
Simple answer, IT Raids. There were Income Tax raids on all the offices involved with IPL, including all franchise owner books(even the kochi and pune teams) and said to be found unaccounted money, the figure is yet to be announced publicly. 
The BCCI has suspened Lalit Modi and appointed Chirayu Amin as an Interim Chairman. Further they said thatn Important documents are gone missing from the IPL as well as BCCI offices.. Now lots of question comes. 

What Lalit Modi is doing?
As expected, he is consulting the countries top lawyers and planning to take legal action against BCCI for his suspension,  and preparing for an response against the charges.  
This case looks to be very complicated,  a few more breaking news are going to pop up on the screens soon, there are lots of big shots/Politicians Babus involved in it. 


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Chennai Super Kings(CSK) are DLF IPL 2010 Winners | IPL 3 Winner Results |

Chennai Super Kings(CSK) are the DLF IPL(Indian Premier League) 2010 Winners, by beating the Mumbai Indians(MI) by 22 Runs. 

Earlier, MS Dhoni captain of  Chennai Super Kings(CSK) won the toss and choose to Bat first in the Finals of the IPL 2010 and stood an score of 168/5 but Mumbai Indians(MI) were out at 146/9.

IPL-3 is considered to be a Great Successful Sport event ever happened in India till date.  This season the game had 60 Matches in total(14 matches each team+ 2 semi-finals + 1 match for top3  + Finals).
Royal Challengers Bangalore(RCB) stood at the third place by crushing the Deccan Charges Hyderabad(DC) in the 59th game of IPL. 

After an tough combat between 8 Teams, and with such an unpredictable suspense game,  who the semi finalist are till the last game before the semis, I would say this as an Super Thrilling extravaganza game. 

This season Mumbai Indians(MI) were the only consistent team right from the beginning of the series with 10 wins and 4 loss in 14 Matches before the semi-finals.  Later in the semi Finals they thrashed the Royal Challengers Bangalore(RCB) and made their way to the Finals vs Chennai Super Kings(CSK) who made it in the finals with an easy win against Deccan Charges Hyderabad(DC).

In this season, apart from the Finalist, the Delhi Daredevils(DD), Rajastan Royals(RR) and Royal Challengers Bangalore(RCB) were at the upper side of the table with more points and expected the four teams out of this five (MI, RCB, DD, RR, CSK) to be in the Semi-Finals, but things have changed where the Deccan Charges Hyderabad(DC) were at the second bottom of the table and were in the situation of five out of five wins to make and entry in Semis, and they made it surprising every one by changing the table with five consecutive wins,  but failed to enter the Finals. 

Even this year, unfortunately things didn't worked out for the Kings Punjab XI(KPXI) who stood at the 8th place (bottom of the table) with 4 wins out of 14 and Kolkatta Knight Riders(KKR) who started well by couldn't make the way in spite of great players in the team, lead by Sourav Ganguly.

One things is sure, IPL(Indian Premier League) hasn't lost its brand name/glory  even after such an ongoing Controversies / Allegations from Income Tax, Politicians, Film Industry and many more.  Simple answer, people watch, only the matches rather than the money involved in it . 

Eagerly waiting for an IPL-4 hoping with 10 teams in it. 

The Curious Case of Lalit Modi: IPL Controversy

Shakti Mohan, takes the Dance India Dance- 2 Title.

The reality dance show aired on ZEE TV has completed its one of the Best India dancing show today by announcing the winner of the show, Dance India Dance, Season -2.


Shakti Mohan, from "Terence Ki Toli" takes away the title "Sunari Tadhir ki Topi" from Grand Master Mithun Chakraborty  beating three other finalists, Binny Sharma, Dharmesh, Punit. 

The 18 weeks long show completes its second season with an Grand Finale today. 
Binny Sharma from Geeta ki Gang stood and Fourth Place, where Punit from Remo ki Rangeela at Third.

After an huge suspense,  the title was announced to Shakti Mohan who got whooping 7,34,100 votes beating Dharmesh by 4000 Votes. 

All the 21 Contestant gave another best performances for the last time on the Finale stage where some special performance's were given by the Choreographer Remo D'souza, Geeta, and Terence Lewis with their final contestants.  Sajan, Naresh, Kishore gave an special performace on B Boying sytle on an special viewer request. 
 
Shakti got an special voucher from Grandmaster and Maruti New Model Wagor R and she get and chance to Dance in an Promotional video of and upcoming movie "Tees Maar Khan" starring Akshay Kumat, Katrina Kaif and Akshay Khanna.
Binny got an Rs.1,00,000 Cash Prize from Choreographer and Director Farah Khan. 

Top 10 Outbound Merger and Acquisitions(M&A) deals in India All time.


Top 10 Outbound Merger and Acquisitions(M&A) deals in India All time.

India had very less cases of Merger and Acquisitions(M&A) earlier. But in past four years, things have changed and there is an very increase in Outbound Merger and Acquisitions(M&A). Outbound M&A means, the Companies which has origin in India and making and initiative in investments in the foreign based companies.  A major landmark was booked by the Tata Steel Limited by acquiring the UK based company, Corus Group in 2007 for a whopping amount of $12.2 Billion.   

Due to the Global financial crisis the Inbound Merger and Acquisitions(M&A) was dropped by approximately 85%, which is said to be Increases in the coming years to an great extent.
The Indian entrepreneurs are on spree in Merger and Acquisitions(M&A) both for outbound as well as attracting the Inbound M&A, which looks to be an good sign for an Economy boom.



Acquirer Company

Targeted Company

Deal Value (In Billions)
Industry
Tata Steel

Corus (UK)
$12.2
Steel 
Hindalco Industries

Novelis Inc (USA)
$6
Aluminium 
Oil & Natural Gas Corp(ONGC) Videsh Ltd
Imperial Energy PLC (UK)
$2.8
Oil & Gas 
Tata Motors Ltd
Jaguar & Land Rover Operations  (UK)
$2.3
Automotive 
Suzlon Energy Ltd
RE Power
(Germany)
$1.7
Power & Energy
Essar Steel Holdings Limited
 Algoma Steel Inc (Canada)
$1.58
Steel
United Spirits

Whyte & Mackay (UK)
$1.11
Breweries & Distilleries 
Tata Power

PT Kaltim Prima Coal; PT Arutmin Indonesia (30% Stake - Indonesia)
$1.10
Power & Energy 
GMR Infrastructure Ltd

 InterGen NV (50% -  Stake Netherlands )
$ 1,10
Power & Energy 
Tata Chemicals Limited
General Chemical  (USA)
$1
Plastic & Chemicals 

Top 10 Merger and Acquisitions(M&A) of 2008 and 2009



Here I posted an article on the Top 10 Merger and Acquisitions(M&A) in 2008 and 2009 and Tech Merger and Acquisitions(M&A) in 2009







Acquirer Company
Targeted Company
Deal Value (In Billions)
Industry
Altria shareholders.
Philip Morris International
$113
Tobacco
InBev
Anheuser-Busch
$60.4
Beverages
Bank of America
Merrill Lynch
$48.8
Banking and Financial
Roche Holding
Genentech Inc
$43.7
Pharmaceutical
Share Holders
Time Warner media
$42.1
Media
Verizon Wireless
Alltel
$28.1
Tele-communication
Novartis AG
Alcon-Nestle(77%)
$27.7
Pharmaceutical
UK Government
Royal Bank of Scotland Group
$26.1
Banking and Financial
Lloyds TSB
Halifax Bank of Scotland
$25.4
Banking and Insurance
Mars Inc
Wm. Wrigley Jr. Co
$23.2
Food Processor



Top 10 Merger and Acquisitions(M&A) of 2009
Acquirer Company
Targeted Company
Deal Value (In Billions)
Industry
Pfizer
Wyeth
$64.5
Pharmaceuticals
Merck
Schering-Plough
$46
Pharmaceuticals
Bharti Group
MTN
$23
Tele-communication
HM Treasury
Lloyd's Banking Group
$22.3
Banking and Financial
HM Treasury
Royal Bank of Scotland
$18.6
Banking and Financial
Suncor Energy
Petro-Canada
$18.2
Oil and Gas
DirecTV
Liberty Entertainment
$14.5
Entertainment
ENEL
Endesa
$14.2
Public Utility
RWE AG
Essent
$12.4
Utility
Vattenfall
Nuon
$10.9
Energy




Top 10 Tech Merger and Acquisitions(M&A) of 2009
Acquirer Company
Targeted Company
Deal Value (In Millions)
Acquirer Company
Oracle Corporation
Sun Microsystems
$7.4
Oracle Corporation
Xerox
Affiliated Computer Services
$5.75
Xerox
Panasonic
Sanyo
$4.6
Panasonic
The Walt Disney Company
Marvel Entertainment    
$4.0
The Walt Disney Company
Dell   
Perot Systems
$3.9
Dell   
Cisco
Tandberg 
$3.4
Cisco
Liberty Global   
Unity media
$3.0
Liberty Global   
Cisco   
Starent Networks
$2.9
Cisco   
Hewlett-Packard
3Com
$2.7
Hewlett-Packard
EMC Corporation   
Data Domain
$2.1
EMC Corporation