MUMBAI: Even as the Infrastructure Leasing & Financial Services (IL&FS) fire continues to take a toll of the players, auditors and rating agencies being the latest, with new reports of mis-governance unravelling by the day, Indian Premier League franchise Chennai Super Kings has also come under the scanner.
The attention of the Enforcement Directorate (ED) has reportedly been drawn to Chennai Super Kings over a Rs 3 billion investment made by IL&FS’s financial arm IFIN into the IPL team.
The ED’s money laundering probe into IL&FS has found that the company’s financial arm IFIN has made Rs 3 billion investments in India Cements owned Chennai Super Kings in 2018 when the team was facing significant debts, Catch News reports.
According to the portal, the ED is currently studying the arrangements and its legalities. The federal agency is likely to call CSK to understand the modalities of the transaction.
