[caption id="attachment_120222" align="alignleft" width="322"]
LPL's franchise Dambulla Viikings owner Sachin Joshi had been arrested by India ED on Sunday (15)[/caption]
The Enforcement Directorate (ED) in India has arrested the owner of Lanka Premier League’s (LPL) franchise Dambulla Viikings owner Sachin Joshi on Monday (15).
Joshi, who is reportedly a businessman, a film actor, and producer, is allegedly having connection with a money laundering case against the city-based “Omkar Realtors and Developers”, The Business Standard in India reported yesterday (17).
Arrested on Sunday
The ED has said Joshi was arrested under relevant sections of the Prevention of Money Laundering Act (PMLA) on Sunday after he was questioned for several hours by the investigating officer of the case.
Dambulla Viikings reached semi-finals last December in the five-team inaugural LPL 2020 under the captaincy of former Sri Lanka T20 Captain Dasun Shanaka. Their Head Coach was former England cricketer Owais Shah.
Gutka and pan producers
A special anti-money laundering court has later sent Joshi to the custody of the ED till 18 February.
Joshi’s father J.M. Joshi is the promoter of the “JMJ Group” which is into the business of manufacturing gutka (a popular chewing preparation which include tobacco and areca nut) and pan (a betel leaf and areca nut preparation).
The Group is into the hospitality sector as well, Indian media further revealed.
Misappropriate a slum rehab fund!
The Indian Income Tax Department had conducted multi-city raids against the Group and those linked to it for almost six days, and the action ended on 13 February. Tax department officials claimed they detected “unaccounted” transactions of about Indian Rs. 1,500 crore (Ind. Rs. 1 crore is approximately SL Rs. 26.9 million) after the investigation.
The ED, meanwhile, has said it wanted to put Sachin Joshi through custodial interrogation in order to probe alleged “diversion” of about Indian Rs. 87 crore, allegedly misappropriated from a slum rehabilitation scheme fund, from the “Omkar Group” to a company linked to him, named “Viking Group”.
[caption id="attachment_120225" align="alignright" width="512"]
A Dambulla Viikings promotional picture during LPL 2020[/caption]
When franchise owners become dubious
There were speculations that some franchise owners of LPL had dubious business records. Franchise league cricket in the region is reportedly inflicted with large-scale match-fixing and spot-fixing, it has been alleged vehemently for years since T20 leagues boomed since the first decade of the Century.
“It is established that loans availed from ‘Yes Bank’ has been diverted and the accused (Joshi) has helped promoters of “Omkar Group” in such diversion for an amount of at least Indian Rs. 87 crore,” the ED has claimed while seeking his remand.
“The interrogation of Sachin Joshi may reveal crucial facts which are in his exclusive domain,” ED has added.
“A behemoth scam”
This is “a behemoth scam” involving huge sum of money which has been siphoned off by the accused in connivance with other persons, the ED alleges. Joshi, in his statement recorded with the ED, denied any wrongdoing.
The ED had last month arrested “Omkar Realtors and Developers” Chairman Kamal Kishore Gupta and its Managing Director Babulal Varma after raids were carried out against them and the Group.
In Tollywood and Bollywood
The ED case has been filed after studying a First Information Report (FIR) of the Aurangabad District police in Maharashtra that was registered for countering cheating and criminal breach of trust.
Sachin Joshi, also spelt as Sachiin Joshi, 36, has reportedly worked in both Telugu and Hindi cinema industries other than his involvement with other businesses including investing in franchise cricket.
LPL's franchise Dambulla Viikings owner Sachin Joshi had been arrested by India ED on Sunday (15)[/caption]
The Enforcement Directorate (ED) in India has arrested the owner of Lanka Premier League’s (LPL) franchise Dambulla Viikings owner Sachin Joshi on Monday (15).
Joshi, who is reportedly a businessman, a film actor, and producer, is allegedly having connection with a money laundering case against the city-based “Omkar Realtors and Developers”, The Business Standard in India reported yesterday (17).
Arrested on Sunday
The ED has said Joshi was arrested under relevant sections of the Prevention of Money Laundering Act (PMLA) on Sunday after he was questioned for several hours by the investigating officer of the case.
Dambulla Viikings reached semi-finals last December in the five-team inaugural LPL 2020 under the captaincy of former Sri Lanka T20 Captain Dasun Shanaka. Their Head Coach was former England cricketer Owais Shah.
Gutka and pan producers
A special anti-money laundering court has later sent Joshi to the custody of the ED till 18 February.
Joshi’s father J.M. Joshi is the promoter of the “JMJ Group” which is into the business of manufacturing gutka (a popular chewing preparation which include tobacco and areca nut) and pan (a betel leaf and areca nut preparation).
The Group is into the hospitality sector as well, Indian media further revealed.
Misappropriate a slum rehab fund!
The Indian Income Tax Department had conducted multi-city raids against the Group and those linked to it for almost six days, and the action ended on 13 February. Tax department officials claimed they detected “unaccounted” transactions of about Indian Rs. 1,500 crore (Ind. Rs. 1 crore is approximately SL Rs. 26.9 million) after the investigation.
The ED, meanwhile, has said it wanted to put Sachin Joshi through custodial interrogation in order to probe alleged “diversion” of about Indian Rs. 87 crore, allegedly misappropriated from a slum rehabilitation scheme fund, from the “Omkar Group” to a company linked to him, named “Viking Group”.
[caption id="attachment_120225" align="alignright" width="512"] A Dambulla Viikings promotional picture during LPL 2020[/caption]
When franchise owners become dubious
There were speculations that some franchise owners of LPL had dubious business records. Franchise league cricket in the region is reportedly inflicted with large-scale match-fixing and spot-fixing, it has been alleged vehemently for years since T20 leagues boomed since the first decade of the Century.
“It is established that loans availed from ‘Yes Bank’ has been diverted and the accused (Joshi) has helped promoters of “Omkar Group” in such diversion for an amount of at least Indian Rs. 87 crore,” the ED has claimed while seeking his remand.
“The interrogation of Sachin Joshi may reveal crucial facts which are in his exclusive domain,” ED has added.
“A behemoth scam”
This is “a behemoth scam” involving huge sum of money which has been siphoned off by the accused in connivance with other persons, the ED alleges. Joshi, in his statement recorded with the ED, denied any wrongdoing.
The ED had last month arrested “Omkar Realtors and Developers” Chairman Kamal Kishore Gupta and its Managing Director Babulal Varma after raids were carried out against them and the Group.
In Tollywood and Bollywood
The ED case has been filed after studying a First Information Report (FIR) of the Aurangabad District police in Maharashtra that was registered for countering cheating and criminal breach of trust.
Sachin Joshi, also spelt as Sachiin Joshi, 36, has reportedly worked in both Telugu and Hindi cinema industries other than his involvement with other businesses including investing in franchise cricket.