Pandora Papers reveal offshore links of IPL franchises Rajasthan Royals, Punjab Kings

The IPL has been linked to the Pandora Papers, which are millions of leaked files from corporate entities around the world that set up offshore companies and trusts for the purpose of tax evasion. The franchises Rajasthan Royals and Punjab Kings have been targeted. According to a CNBC investigation, Gaurav Burman of the Dabur family, who is also the husband of Lalit Modi’s step-daughter, “routed monies from a British Virgin Island organisation to a Mauritian company,” which also happens to be a holding company of KPH Dream Cricket Private Ltd. (owner of Punjab Kings).

Suresh Chellaram, a Nigerian entrepreneur and the husband of Lalit Modi’s sister-in-law, also directed “funds through a British Virgin Island entity that enjoys a 44.15 per cent stake in Mauritian company” in the name of EM Sporting Holding, according to the ICIJ exposé, which includes journalists from the BBC and The Guardian (owners of Rajasthan Royals).

Sachin Tendulkar was discovered to be an owner of an offshore business in the British Virgin Islands, which was liquidated in 2016, and this is not the first revelation in the Pandora Paper dispute involving anyone from the Indian cricket circuit.

The Pandora Papers investigation is still ongoing, but it demonstrates how the wealthy and elite have created intricate arrangements in tax havens to avoid paying their fair share of taxes. The presidents of Ukraine, Kenya, and Ecuador, as well as former British Prime Minister Tony Blair, the Czech Prime Minister, King Abdullah II of Jordan, pop sensation Shakira, and Indian billionaire Anil Ambani, have all been named.