Lalit Modi Alleges Threat from Shashi Tharoor Over Sunanda Pushkar Inquiry
Allegations of Intimidation
Lalit Modi, the former Chairman of the Indian Premier League (IPL), has made serious allegations against Congress MP Shashi Tharoor. Modi claims that Tharoor contacted him, advising him to refrain from questioning the circumstances surrounding his late wife, Sunanda Pushkar. This conversation arose after Modi attempted to challenge the Kochi consortium's entry into the IPL due to concerns over a potentially fraudulent equity structure linked to Pushkar.
In a recent interview, Modi recounted that Tharoor cautioned him about possible government repercussions should he continue with his inquiries. Modi stated that he dismissed the warning, ended the conversation, and declined to endorse the document in question.
Details of the Threat
Modi recounted, "I received a call from Shashi Tharoor, who said, 'Lalit, don't inquire about Sunanda Pushkar. She is a good friend of mine.' When I pressed for clarification, he warned me that if I did, I would face raids the next morning. I responded defiantly, stating, 'Who do you think you are? You may hold a significant position, but you cannot intimidate me.' I hung up and refused to sign anything."
The tension escalated during a late-night meeting in Bengaluru, where Modi stood firm on not signing the franchise agreement until the identities of the hidden shareholders were disclosed.
The Controversial Equity Structure
Modi expressed his confusion regarding Sunanda Pushkar's identity, stating, "I had no prior knowledge of who she was. I asked the consortium members, 'Who is she?' One responded that she was the daughter of an automobile dealer and a notable marketing figure. I was surprised, as I am a marketing professional in India and had never heard of her."
The conflict arose from Modi's refusal to accept what he deemed an unbalanced financial model from the Kochi consortium. The group had won the expansion team with a staggering $350 million bid, yet the financial structure suggested an impending collapse.
Concerns Over Share Distribution
Modi questioned the rationale behind granting 25% shares to Pushkar, asking, "Who is she? You're allocating 15% of the revenue to her. How can someone pay $350 million for a consortium where 75% of the shareholders bear the entire cost while another receives 25% free equity?" He further elaborated that Pushkar's nominal share was valued at 1 lakh rupees on the day of acquisition, while others were worth significantly less.
He foresaw the financial downfall, stating, "I knew this would collapse, and indeed, two years later, it did."
Kochi Franchise's Short-Lived Journey
Modi also mentioned that he permitted the Kochi team to enter the IPL bidding process despite the absence of a stadium in Kerala, attributing this decision to Tharoor's persuasive tactics. "Tharoor was quite charming and convincing during our discussions, and I fell for his approach," Modi admitted.
The Kochi franchise was ultimately terminated by the Board of Control for Cricket in India (BCCI) in 2011 after competing in just one season, where they finished eighth out of ten teams. Following the controversy, Tharoor resigned from his position as Minister of State for External Affairs in 2010.