Former chief Srinivasan hired London firm to spy on BCCI officials: report

Former Board of Control for Cricket in India president Narayanswami Srinivasan is facing fresh trouble after reports emerged that he hired a London-based firm to spy on other Board members, it was reported on Sunday.

The matter came up for discussion during the BCCI's Working Committee currently being held in Kolkata and the Board is planning to conduct an investigation after it was reported that Srinivasan allegedly used Rs 14 crore from the BCCI's coffers to hire the spying agency, who tracked the phones and emails of some members.

BCCI secretary Anurag Thakur is likely to head the panel to investigate the matter.

Also, the issue that could be deliberated at length is the amount of Rs 5 lakh that was recorded as the valuation of de-merger of Chennai Super Kings from its parent company India Cements. The issue has caused quite a stir at the recently-concluded Indian Premier League Governing Council meeting in New Delhi

It is learnt that Chennai Super Kings Private Limited, after its de-merger from its parent company India Cements, have been valued at Rs 5 lakh as per documents that were handed over to IPL Governing Council.

Subsequently, IPL chief operating officer Sundar Raman was asked a few questions by some of the GC members about the "weird valuation" of the de-merger, as they were paying an annual franchise fee of Rs 40 crore and also spent annually around Rs 60 plus crore as players' remuneration.

The other question that was raised at the IPL Governing Council meeting was Rs 25,000 being paid upfront to the BCCI for the sale of the franchise.

Image: Narayanswami Srinivasan

Photograph: BCCI