Friday, October 01, 2010

Gavaskar & Others in Governing Council are accountable for IPL Mess

Media & others have solely focused on Lalit Modi for IPL Mess. I also ascribed to the view. And largely did not think Ravi Shastri, Gavasakar & others in IPL Governing Council as accountable.  

I accepted without question when Tiger Pataudi said they did not doubt Lalit Modi when things were going well.. Thinking that it is not the responsibility of Governing Council to look into the accounts. 

But that was until i knew they earned a crore rupees. A CRORE RUPEES - Do did they think their few hours  of meeting time was worth a crore? Even Mukesh Ambani gets less than 50 crores for slogging 24*7 for Reliance.

As  Sarbanes-Oxley Act(SOX) states, Internal Control is the direct responsibility of the board.They failed in their duty where they fail to direct their minds to the question of whether a transaction was in the best interests of BCCI. If this has happened in a public organization, all the directors would be facing fines or prison terms.. Sad state of BCCI and one-minded focus on Lalit Modi, Members of Governing Council are escaping lightly. Hmmm