Sharad Pawar’s relative holds 10% in MSM
Amidst all the controversies surrounding the Minister of State for external affairs, Shashi Tharoor and the IPL commissioner, Lalit Modi, it has been learned that the son-in-law of the BCCI Chief Sharad Pawar, Sadanand Sule (the NCP president) controls about 10% stake in Multi Screen Media (formerly Sony Entertainment Television).
The information has been given by the person who is aware of the shareholding pattern of the company but quoted on the conditions of anonymity.
In fact, Sule's 10% stake has come into picture via the power of attorney from his father B. R. Sule, the respected Ex managing director of Mahindra and Mahindra, who has held this stake since the year 1992. Notably, MSM has the rights for the broadcasting of the much-hyped cricket tournament, IPL.
In 2008, MSM (earlier known as Sony Entertainment) along with World Sports Group placed bids for the broadcasting rights of IPL. While Sule and his wife weren't available for comment, the Income Tax authorities have recently raided the offices of World Sports Group and MSM for the allegations on discrepancy over shareholding patterns of IPL franchisees.