CSK likely to be summoned by ED: The runners-up of the Indian Premier League seem to be in trouble over financial concerns.
Indian Premier League franchise Chennai Super Kings seem to be in trouble with respect to an INR 300-crore investment. The investment done by Infrastructure Leasing & Financial Services’ (IL&FS) financial arm IFIN has come under the watchful eyes of ED (Enforcement Directorate).
In the first phase of investigation, it has been found that the transaction was made before IPL 2018 when the franchise was under huge debts.
Manpreet Gony bowling to Fafulous shooting a six to a #SuperFan – an incredible triangular #yellove story! This happening in Canada is too good to be Trudeau! #WhistlePodu #EverywhereWeGo 🦁💛 pic.twitter.com/jRdBw5cx9I
— Chennai Super Kings (@ChennaiIPL) August 24, 2019
CSK likely to be summoned by ED
Going by a recent report in Business Standard, the ED is further investigation into the matter from all perspectives. While CSK is expected to receive a summon soon to understand the modalities of the transaction, the senior management of IL&FS will also be questioned.
It is worth mentioning that former IL&FS President Hari Sankaran was arrested by SFIO (Serious Fraud Investigation Office) over charges of fraudulence and causing wrongful losses to the company.
Super Kings were earlier suspended for a couple of years (2016-2017) regarding involvement in the IPL 2013 spot-fixing scandal. While nothing can be said at this point in time, another sentence to them could really hurt the image of the franchise hard.
After making comeback in the last season of the IPL, Chennai had registered their third season victory after beating Sunrisers Hyderabad by 8 wickets in the final. Talking of IPL 2019, CSK had almost defended their title before succumbing to pressure against Mumbai Indians.
After Indians (4), Chennai is the only team which has won the IPL as many as three times.