The corporate affairs ministry today said it was collecting information on all franchisees of IPL teams and described this as a part of normal practice for any company and was not a probe. "My ministry is merely collecting information that we should have in the normal course of those companies that are franchisee companies," Corporate Affairs Minister Salman Khurshid told reporters here.
The Ministry of Corporate Affairs (MCA), he added, was not conducting any probe but was only doing the due diligence as lot of questions have been raised publicly about the ownership pattern of the franchisee companies.
"My ministry is not conducting a probe.... Because a lot of questions are raised publicly...We should do our due diligence," Khurshid said. The ministry, on Wednesday last, had directed the Registrar of Companies (RoC) to collect within a week all details on IPL franchisees, including the bidding process, sweat equity and memorandum of association.
