Ruckus Arises Over a 145-crore Loss In Election Of National Sports Club Of India

The National Sports Club of India (NSCI) has caused a stir after losing Rs 145 crore in four years.

Club members claim that the current management’s bad policies will bankrupt the club.

Along with this, a complaint filed with the Mumbai Police Crime Branch against three contractors, including the club’s former president and secretary, has become a major issue.

In fact, following an audit, the current club management filed a complaint with the Mumbai Police.

In which it was claimed that the club’s previous committee issued fake bills, approved increased quotations, and issued fake tenders in order to award contracts to the selected contractors.

What’s the concern?

In fact, on the complaint of some club members, the Mumbai regional committee had the club accounts audited from 2013 to 2018.

The audit revealed crores of rupees in fraud.

The audit revealed that by awarding contracts to club members, more money was paid on the increased quotation.

In the name of overtime, fake bills were created. Not only that, but by providing free membership to BMC and government officials, the club lost approximately fifteen and a half crores.

A formal complaint against former management

Based on this report, a police complaint was filed against Jayanti Lal Shah, the club’s president for eight years, Rakesh Malhotra, the secretary for 12 years, and interior designers Rakesh Vanjani, Bhishma Shajwani, and Sebastian Paul.

The Mumbai Police Economic Offenses Wing has accelerated the investigation of this 2020 complaint.

The current president had expressed his displeasure

According to club sources, the club’s current president, Jayanti Shah, had previously complained about irregularities in the club.

The government agencies are taking action on the complaints now that he is the head of management.

The BMC notice is said to be part of the same action.

Following that, a faction of club members is mobilising against him.

BMC had issued a notice

According to the information, the club is required to give BMC 33 percent of its revenue under a mutual agreement between NSCI and BMC.

This does not include revenue from sporting events held on club grounds.

According to the BMC notice, the total outstanding amount includes an 18% fine.

The club had not paid its dues since 2013, according to the notice.

Previously, on December 24, 2019, a demand letter was sent to the club in order to recover Rs 101 crore in debt.

However, following the club’s request, the debt was reduced to Rs 61.46 crore.

The BMC also stated that the club will not be issued a no-objection certificate for any work until the dues are paid in full.

145 crores in losses

The club has reportedly lost about 145 crores in four years, according to the finances report that was recently sent to club members. His inquiry relates to the Mumbai unit’s current sum of 94 crores in fixed deposits. While BMC only has Rs 128 crore in total unpaid debt. There appears to be a plan in place to put the organization out of business.

Elections four years later

In NSCI, 12 leadership members are chosen annually. However, the current administration has not held polls in the previous four years. which club member Hariom Gupta walked onto the arena to confront. Immediately after that, 48 members are concurrently elected. Additionally, it is claimed that a member who is charged in the POCSO case of the current administration is running for office under a different last name. Additionally, it is claimed that he used about 58 lakh rupees from the club to fight the complaint made against him.