Issue of Sweat Equity Shares and role of Sunanda Pushkar
Lalit Modi in his twitter account revealed details of owners of Kochi Franchise. One of the owner Sunanda Pushkar was offered 70 Crore worth Shares as Sweat Equity. There is a provision related to Sweat Equity Shares Issue in the Companies Act, 1956. Sunanda Pushkar is a Lady friend of Congress Politician Shashi Tharoor.
In the History of Politics, no one would have been offered such amount of money to other for free. Even in this case, the way of allotting the shares was illegal, as reported by media. Rendezvous Sports World would have thought that, Sweat Equity might be the easiest way to offer Sweats to Shashi Tharoor, but the same has cause much of the current controversy. On April 18, 2010 Sunanda Pushkar offered to give away the sweat equity shares held by him to avoid the controversial war going on. But the same statement confirms Shashi Tharoor being Guilty in the Party of IPL Kochi.