New Delhi: The Union Agriculture Minister Sharad Pawar is likely to face more trouble as documents suggest the Pune-based builders City Corporation had authorised its MD to bid on its behalf for an IPL team.
Despite denials by Pawar and his daughter Supriya Sule that their family members had no links with the bid for the IPL Pune team, the controversy seems to be far from over.
In his first reaction after the news of Pawar's links to the IPL bid broke, City Corporation Managing Director Aniruddha Deshpande said Saturday that the Pawars are not involved in any IPL bid.
"There is no money involved in the present IPL bid. We didn't get the bid. Anybody of the Pawar family was never involved in the bid," Deshpande said Saturday.
Lap Finance, which is hundred percent owned by Pawar and his family members, holds shares of the City Corporation.
"Lap Finance holds shares of the City Corporation Ltd for the last seven years. Nobody of the Pawar family is a board member of the City Corporation. The IPL bid was also not in the name of the City Corporation," Deshpande added.
"The bid paper was bought in the name of City Corporation. When I approached the share holders of the City Corporation, they said they will not bid for the IPL. Then I approached the board to please allow me to bid since we have already bought the papers," Deshpande further said.
However, the City Corporation's board resolution, passed on January 31, 2010, suggests Aniruddha Deshpande was authorised to bid for the Pune IPL franchise on behalf of the company, not by his individual capacity.
The board notice says: "The Company do and hereby authorise Mr Aniruddha Deshpande to represent the company in participating, bidding, winning and operating IPL franchise for Pune in IPL-4 & onwards and to sign any agreement and other documents on behalf of the Company in relation to participating in the bidding process."
But Deshpande says the company had later reversed the decision to bid.
Meanwhile, BJP spokesperson Ravi Shankar Prasad insisted that Anirudhha Deshpande bid on bahalf of the City Corporation for the Pune IPL team.
"Since yesterday, I have been saying that Deshpande bid in the corporate capacity... The tender document was purchased in corporate capacity... and once it's done in corporate capacity it includes the stake of Pawar and his family.
"If they would have been successful had it disowned it. Because, once Deshpande is bidding in corporate capacity the matter ends there. In my experience as a lawyer, it is unknown in corporate law that you bid in the corporate capacity and thereafter you disown. When Deshpande acceded the brief did the board remove him?"
Unanswered questions
Why didn't Pawars and Deshpande mention the Jan 31 City Corp board resolution authorising Deshpande to bid in company's name?
Why did Deshpande insist the bid was in his personal capacity when the bid was originally put up in company name?
If the bid was in City Corp's name, a company in which Pawars have 16% stake, can they claim to have no financial interest in the IPL bids?
Why did it take seven weeks between January 31 and March 17 for City Corp to reverse its decision not to bid in company's name?
Why were details of Pawars stake in City Corp not shared with public till The Times of India revealed it?
Where was Deshpande getting money from to bid for an IPL team -- was it his personal money or was he going to use City Corp funds?
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