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WPL 2023: Adani vs Hindenburg Research – Indian Cricket’s new entrant Gautam Adani is in disaster. Following an explosive report by Hindenburg Research,…
WPL 2023: Adani vs Hindenburg Research – Indian Cricket’s new entrant Gautam Adani is in disaster. Following an explosive report by Hindenburg Research, as soon as the world’s 2nd richest man, Adani group has now misplaced over Rs 4.17 lakh market cap in simply 2 days. While it has already impacted India’s share market, it brings one pertinent query, will it have an effect on Adani Sportsline’s sports activities pursuits? Adani Group owns Gujarat Giants (WPL), Gujarat Giants (Pro Kabaddi) and Gulf Giants in ILT20. Adani Sportsline bought Women Premier League Ahmedabad franchise for a document Rs 1,289 Cr final week. Follow Women’s Premier League Live Updates on InsideSport.IN.
Adani Group in Sports:
- ILT20: Gulf Giants
- WPL: Gujarat Giants
- PKL: Gujarat Giants
- Ultimate Kho Kho: Gujarat Giants
- Legends Cricket League: Gujarat Giants
WPL 2023: Women Premier League’s new group proprietor Adani loses Rs 4.17 lakh Cr in market cap after Hindenburg report, will it influence sports activities funding? Follow LIVE Updates
However, as issues stand, Adani Sportsline-owned Gujarat Giants WPL group is secure. BCCI isn’t involved with the reviews and the guardian firm’s sudden downfall.
“It’s not a concern at all. Adani Sportsline is a sports arm of Adani Group and it has nothing to do with whatever has come out. Auctions were done in a transparent manner. Adani Sportsline won it fair and square. We have not had any indication to believe the entity will not carry out its duty as a WPL franchise,” a senior BCCI official instructed InsideSport.
However, if issues might change in future if the Government of India or SEBI launches additional investigation or finds the proprietor of group of corporations liable. Currently, the franchise is secure and is prepared to participate in WPL 2023.
“The report is done by a third-party entity. If our govt or govt committees find any irregularities or any alleged fraud that they are talking about, we will discuss the matter then. For now, it is not even a topic to have concerns for,” the BCCI official additional mentioned.
Adani vs Hindenburg Research – US-based Hindenburg Research has accused Adani Group of brazen company fraud. It has alleged that Adani Group has manipulated shares and dedicated monetary fraud. As a end result, the businesses have seen a freefall in inventory market.
- Adani members of the family allegedly cooperated to create offshore shell entities in tax-haven jurisdictions producing solid import/export documentation.
- The corporations allegedly showcased faux or illegitimate turnover to siphon cash from the listed corporations.
- Vinod Adani (Gautam Adani’s elder brother) opened a series of shell corporations to serve inventory parking/ inventory manipulation.
- The shell corporations allegedly laundered cash by way of Adani’s personal corporations.
WPL 2023: Women Premier League’s new group proprietor Adani loses Rs 4.17 lakh Cr in market cap after Hindenburg report, will it influence sports activities funding? Follow LIVE Updates
Meanwhile, BCCI is making ready for the inaugural Women Premier League Auction. The board has acquired an awesome response from gamers and different cricket boards. The public sale is predicted in 2nd week of February in New Delhi or Bengaluru. BCCI will announce the venue and last date this week.
Women’s IPL Teams Auction –
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Ahmedabad – Adani (Rs 1289 Cr)
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Mumbai – Reliance (MI) – Rs 912 Cr
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Bangalore – Diageo (RCB) – 901 Cr
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Lucknow – Capri Global – 757 Cr
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Delhi – DC franchise – 810 Cr
Base Price and Auction Rules for the WPL Auction
- Capped gamers may have three pricing classes (INR 50 lakh, INR 40 lakh, and INR 30 lakh).
- The participant’s agreed-upon fee for the competitors will probably be proven within the hammer value on the finish of the bidding process.
- The base price for uncapped gamers is out there in two sizes: INR 20 lakh and INR 10 lakh.
- Five yet-to-be-named franchises will then replace the “Auction Register” in accordance with the IPL’s present protocol to create an “Auction List,” which is able to then be put up for bids.
- Those who’re within the “Registered Available Player Pool” however are usually not chosen on the public sale may have one other probability to be chosen as alternative gamers (s).
WPL 2023: Women Premier League’s new group proprietor Adani loses Rs 4.17 lakh Cr in market cap after Hindenburg report, will it influence sports activities funding? Follow LIVE Updates
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