Scam Allegation on Lalit Modi and Suresh Kalmadi

Only available on StudyMode
  • Topic: Indian Premier League, India, Board of Control for Cricket in India
  • Pages : 10 (3090 words )
  • Download(s) : 109
  • Published : January 29, 2011
Open Document
Text Preview
Business Ethics

An Assignment







Lalit Kumar Modi born on November 29, 1963, Delhi, India is the founder and architect of the Indian Premier League He is best known for his stint as the Chairman and Commissioner of the Indian Premier League and the Chairman of the Champions League, between 2008 and 2010, he has also occupied the roles of Vice President of the Board of Control for Cricket in India (BCCI), between 2005 and September 2010, and Vice President of the Punjab Cricket Association. Lalit Modi is also the President and Managing Director of Modi Enterprises and the Executive Director of Godfrey Phillips India His Background:

Lalit Modi was born in a wealthy and successful business family. His father Krishan Kumar Modi is Chairman of Modi Enterprises, a Rs40 billion business empire, which was founded by his grandfather, Raj Bahadur Gujarmal Modi, who also founded the town of Modinagar. Lalit Modi joined Bishop Cotton School in Shimla, Asia's first boarding school, in 1971.Modi is noted to have been a brilliant sportsman and used to play a number of sports, including cricket. He also attended St Joseph's College in Nainital. He travelled to the United States to continue with his studies, where he studied Electrical Engineering and Business Administration at Pace University and Duke University, between 1983 and 1986 Modi is the President and Managing Director of Modi Enterprises, created and run by his family. Modi has been the Executive Director of Godfrey Phillips India since 1992, one of India's largest tobacco companies. The company is jointly promoted by the Modi Enterprises and Philip Morris International. Modi Entertainment Networks: Modi started a 10-year joint venture with Walt Disney Pictures in 1993, called Modi Entertainment Networks (MEN), to broadcast some of Disney's content in India, including Fashion TV. In 1994, he became the pan-India distributor of ESPN on a ten-year contract worth $975 million. His job was to collect money from the cable companies in India in exchange for them broadcasting ESPN. The deal, gave ESS exclusive global commercial rights for all T20 Champions League seasons until 2017, making it the highest cricket tournament by value on a per game basis. CONTRIBUTION TO CRICKET:

From his childhood Modi was a big fan of cricket. This has lead him to these positions.

Rajasthan Cricket Association

In 2005, Lalit Modi joined the Rajasthan Cricket Association. He eventually became president of the Rajasthan Cricket Association, with the help of then Chief Minister of Rajasthan, Vasundhara Raje, who changed the law in Rajasthan, effective 18 August 2004, so that the RCA becomes a more democratic organisation with elections Board of Control for Cricket in India

In 2004, Lalit Modi ran for President of Rajasthan Cricket Association and won, which entitled him to a seat on the Board of Control for Cricket in India.[27] In 2005, Modi figured in a power struggle that resulted in Sharad Pawar, an influential politician and national cabinet minister, ousting former Indian cricket supremo and International Cricket Council Chief, Jagmohan Dalmiya, in the Board of Control for Cricket in India elections. Modi was then appointed Vice-President of the BCCI.[28] Lalit Modi was heavily involved in the commercial side of the Board of Control for Cricket in India and it is reported he was responsible for increasing the BCCI's revenues sevenfold between 2005 and 2008, with the BCCI then reporting annual revenues of over $1 billion. During his time at the BCCI, Lalit Modi concluded the following deals: • Pan-India distributor deal with ESPN on a ten-year contract - $975 million in 1994 • Team Sponsorship Deal for Team India with Sahara group for 4 years - $103 million (415 Crores) on 20.12.05 • Team Apparel Sponsor Deal for Team India with Nike for 4 year - $53 million (215 Crores) on 24.12.05 • Media Rights Deal with...
tracking img