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Jay Shah Explains Why FDI Can’t Be Allowed in Indian Premier League

Jay Shah

Jay Shah Explains Why FDI Can’t Be Allowed in Indian Premier League

On Monday, March 11, Jay Shah, the Secretary of the Board of Control for Cricket in India (BCCI), declared that foreign investment in the Indian Premier League (IPL) is not permitted without the central government’s and the Reserve Bank of India’s (RBI) clearance.

In order to dispel any doubts over possible Saudi involvement, Shah stated that as the BCCI is registered in India as a society and not a business, there can be no foreign direct investment in the IPL. Shah said to PTI, “BCCI is a society and nobody can invest in it,” during a conversation.

In India, the Reserve Bank of India and the national government must both approve foreign investment before it may be accepted by a registered organization.
Since the state-owned oil and energy business of the Kingdom already sponsors the Aramco Purple Cap (for the most wickets in a season) and Aramco Orange Cap (for the most runs in a season) awards, there were many rumors of a Saudi investment.

The Chennai Super Kings, the reigning champions, will play the Royal Challengers Bangalore at the MA Chidambaram Stadium in Chennai on March 22 to kick off the 2024 Indian Premier League.

BCCI Registration History

Under the Societies Registration Act of 1860, the Board of Control for Cricket in India (BCCI) is a recognized nonprofit organization. The board was established in 1928, but it wasn’t until 1940 that it was officially registered as a society—that is, in Tamil Nadu, not Maharashtra, where its current offices are in Mumbai.

The Madras Societies Act was used to register BCCI since Paramasivan, the organization’s fifth president, operated out of Madras, Chennai.

Also Read: Spectacular Sixes by Shardul Thakur Revive Mumbai Innings in Ranji Trophy Final Against Vidarbha

Should society be improperly managed by its Board of Trustees, direct government intervention is not permissible. Unlike other sports organizations, BCCI does not get any government subsidies as a society. For the most part, it simply answers to the ICC.

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After KL Rahul was “publicly shamed” by LSG owner Sanjeev Goenka during the IPL, Athiya Shetty shared a cryptic post

KL Rahul

After KL Rahul was “publicly shamed” by LSG owner Sanjeev Goenka during the IPL, Athiya Shetty shared a cryptic post

Bollywood entertainer Athiya Shetty shared an enigmatic post days after her better half, cricketer KL Rahul, turned into the eye of an IPL storm. Last week, fanatics of the competition were in for an impolite shock after Lucknow Super Goliaths (LSG) proprietor Sanjeev Goenka apparently hollered at KL Rahul, the skipper of the group, following a terrible loss against Sunrisers Hyderabad (SRH). A video became famous online when Goenka and Rahul appeared in a live discussion. Many assumed that the LSG proprietor was giving Rahul a tongue-lashing.

While fans have reprimanded Goenka for his way of behaving, neither Suniel Shetty nor Athiya Shetty have commented on the new development. Nonetheless, on Monday, Athiya shared a post that talked about ‘quiet after a tempest.’ Taking to her Instagram Stories, Athiya shared an image of the sun radiating through a sky loaded with mists and expressed, “The quiet after the tempest.”

KL Rahul

In spite of the fact that Rahul has yet to comment on the episode, LSG’s associate mentor, Spear Klusner, shared his contemplations on the specific second in front of their impending match against the Delhi Capitals. The previous South African global had an intriguing interpretation of the talk between the two. He was cited by PTI during the pre-match question and answer session, saying,” I see no issue in a powerful conversation between two cricket darlings. For our purposes, it is an issue blown way out of proportion. It’s anything but something major for us.”.

Also Read: Andrew Garfield and Julia Roberts to Co-Star in Luca Guadagnino’s After the Hunt

In the interim, KL Rahul has likewise not been decided to be a piece of the T20 World Cup crew. The group is set to travel to the US and West Indies for the series, under the captaincy of Rohit Sharma.

Athiya wed Rahul in 2023, subsequent to dating for nearly five years. The wedding occurred at Suniel Shetty’s farmhouse in Khandala and was celebrated in an affectionate service. By posting pictures from their wedding on Instagram, the couple unveiled their marriage last year. In their common post, they communicated, “In your light, I figure out how to cherish… Today, with our most friends and family, we got hitched in a house that has given us massive satisfaction and peace. With a heart brimming with appreciation and love, we look for your endowments on this excursion of fellowship.” After KL Rahul was “publicly shamed” by LSG owner Sanjeev Goenka during the IPL, Athiya Shetty shared a cryptic post.

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GT vs KKR Live Score, IPL Match Today: Gujarat Titans vs Kolkata Knight Riders – Raining Harder Now

GT vs KKR

GT vs KKR Live Score, IPL Match Today: Gujarat Titans vs Kolkata Knight Riders – Raining Harder Now

According to reports from Ahmedabad’s Narendra Modi Stadium, the rain has begun to fall more heavily now that the sun is firmly hidden behind the clouds. Not every floodlight is turned on all the way either.

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GT vs KKR: IPL Match Today: Rain is Back Again

GT vs KKR

GT vs KKR : IPL Match Today: Rain is Back Again

The Narendra Modi Stadium in Ahmedabad is once again experiencing rain. It appears like we are about to have a significant delay in our operations.

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