Kapil Dev accused of being involved in `business nexus'

Kapil Dev has been increasingly under fire in the last few months. So far, all allegations have been related in some way or the other to matchfixing and betting. The Indian Express today reports that Kapil Dev's company, Dev and Dev might be involved in financial irregularities in their consulting services business.

Dev and Dev have been providing consultancy to a variety of companies abroad with respect to importing and exporting commodities. Of these companies, two are particularly being examined - Glencore and the Steel Authority of India (SAIL). Glencore is an Australian company dealing in coking coal. Glencore has been represented in India by Dev and Dev. Glencore have been supplying coking coal to SAIL for some years now.

When the deal between the two companies was struck, the deal was said to be influenced by Santosh Mohan Dev, former Union Minister for Steel and Mines and his nephew Karan Dubey, reports the Indian Express. Kapil Dev's and Karan Dubey's close friendship is a well known fact. When the deal was struck, Kapil Dev's company was receiving a consultancy fee of US$ 5000 a month. Soon after, this fee was raised to US$ 15000 a month. Whether this large raise was proportionate to actual business brought in is unknown. It is also unclear whether Dev and Dev received a commission on contracts secured in addition to this flat fee.

Karun Dubey was among those whose properties were raided in the recent round of raids conducted by Income Tax authorities. The authorities are said to have suspected a "business nexus" between Karun Dubey and Kapil Dev.

The Indian Express quotes Karun Dubey as being dismissive about these allegations, "I have been staying away from all this and have never done any liaison work for securing coal contracts. And I have never worked with Kapil Dev." Kapil Dev too corroborates this in the same report "I never do business with friends. I have several professionals working with me for the coal and oil sectors and Karun is not one of them. Only Romi and I are the directors on the company," he says.

Although the alleged financial irregularity cannot be conclusively established, one thing is certain. Any deal Kapil Dev or his company was involved in will be under close scrutiny.