N Srinivasan has been under a lot of controversy over the past couple of years © Getty Images
Former BCCI chief, ICC Chairperson and TNCA President, N Srinivasan on Friday resigned as the Director of the India Cements Capital. He has been under a lot of controversy over the past couple of years, following the spot fixing scandal in the IPL and corruption charges at the BCCI. N Srinivasan re-elected as TNCA President
N Srinivasan resigns from the post of Director of India Cements Capital.
— ANI (@ANI_news) June 12, 2015
India Cements is the same company that once owned the IPL franchise, Chennai Super Kings (CSK) and there were corruption allegations against few of its members, including Srinivasan, who was the director of the company and his son-in-law, Gurunath Meyippan, who too is a stake holder of the franchise, was also charged with the same. N Srinivasan didn’t allow MS Dhoni to be sacked as India captain, says former selector
According to a report in NDTV, Srinivasan has given up the entire 29 percent share in India Cements, which owns CSK. This means that 29 percent of the revenue generated by CSK will go to the trust managed by India Cements. Srinvasan was quoted to have said, “My background and history is of supporting cricket.” A source was reported to have said, “Creation of the Trust and transferring his [Srinivasan's] ownership rights to the trust is complete. That decision is now irreversible. CSK is not owned by Srinivasan anymore and BCCI has been informed about the changes.” N Srinivasan can learn from Sepp Blatter’s resignation as FIFA President