The Institute of Chartered Accountants of India (ICAI) is planning to send notices to six IPL franchisees seeking more information from the companies owing the teams.
The six franchisees including Preity Zinta-promoted Kings XI Punjab, Reliance Industries-promoted Mumbai Indians, GMR-owned Delhi Daredevils, Shilpa Shetty-owned Rajasthan Royals, Chennai Super Kings and Deccan Chargers would be send notices soon, ICAI sources told The media.
Sources said the ICAI has not been able to complete investigations so far because of lack of information about these privately-held companies. Apart from the financial statements, no other information is available, which has made the probe difficult.
The institute was in a dilemma as to whether it should seek the information because as per the rules, the Financial Reporting Review Board (FRRB), which is investigating the matter, can not ask for any other information except the financial statements.