Gavaskar admits foreign currency in locker belongs to him

Former Indian captain Sunil Gavaskar has admitted that the foreign currency, equivalent of 15,000 US dollars, found in his locker in the Bombay Gymkhana belonged to him.

The locker was broken by the authorities of the Bombay Gymkhana on September 25 in which traveller's cheques (TCs), currency notes of various countries and a few personal effects were found, Minister of State for Revenue Gingee N Ramachandran told Vijay Goel in a written answer in Lok Sabha.

During the course of investigations carried out so far by the Enforcement Directorate, Gavaskar admitted that the foreign currency belonged to him. He claimed the TCs of USD 3000 and UK pounds 7500 (equivalent to US dollars 15,000) received as allowances for personal expenses from M/S Intext Group of Companies and that the foreign currencies were kept in the locker due to renovation work being carried out at his residence.

The remaining currencies found in the locker were claimed to be the unspent amount of foreign exchange availed by him for foreign visits.

Apart from the traveller's cheques equivalent to US dollars 15,000, Gavaskar has also received US dollars 75,000 from M/s Intex Group as consultancy fees in terms of their agreement dated 10.8.1999.