Monthly Archives: December 2016

Soccer startup aims to induce global practices in India

A sports startup, aimed at football, is trying to introduce matured global practices in grooming talent through a business model, in association with corporates in India. The startup, part of Ekalavya Sports and Skill Development, owned by former national football player Kalyan Chaubey, with 21 years of footballing, sold-off his two houses to finance the Rs 12.5 crore mega football academy at Sambalpur, Odhisa. “We are trying to bring in global practices for grooming talent for soccer at Sambalpur. In order to make the project sustainable, we are looking at shaking hands with corporates,” Chaubey told PTI. With advent of Indian Soccer League (ISL) there is a severe crisis for quality players for the game and we have devised a business model for corporates which ranges from branding a football academy to sponsorships of players, he said. According to him, the Sambalpur facility is possibly Indias largest football academy both in terms of area and facilities. The academy can accommodate 90 players in a year. “But we will groom 30 to 40 semi-skilled 19-year-old players engaged in under 19 clubs for free,” Chaubey said. “They would be selected through our internal selection process. We would train them for two years to turn them ISL ready professional players while the rest can get training as per pay and play model,” Chaubey said. “Considering these players command the minimum annual fee as players in ISL, corporates will able to make healthy profit from tranfer fees for sponsoring these free players during the training period besides branding,” Chaubey said. In India, sponsoring players for transfer-fees when they turn professional players, is a new concept, he said. In order to strengthen its technical capabilities, the academy is negotiating with a top global soccer club to sign an agreement. Dialogues are on and in an advanced stage, he said.

Chaubey also said they are also open to offer co-owner rights of the academy and already holding discussion with a few corporate entities in this regard. PTI BSM SBN MM SSC SSC

Sambalpur cops request ED to probe cash seizure

Sambalpur police has requested the Enforcement Directorate (ED), New Delhi to inquire into the seizure of Rs 1.43 crore from a car. Informing this to mediapersons, Sambalpur SP Akhileswar Singh said a copy of the FIR and details of cash seizure have been sent to the Enforcement Directorate, New Delhi.
He also revealed that a team of Sambalpur police has been sent to Bhubaneswar to gather information from Reserve Bank of India (RBI) about the seized currencies. They will try to ascertain the bank to which the new notes were issued for disbursal.
According to police, of the total cash seized, Rs 85.62 lakh was in new currency of Rs 2,000 and Rs 5,00 denominations while Rs 25.29 lakh was in old currencies of Rs 500 and Rs 1,000 denominations besides notes of smaller denominations. Moreover, the new Rs 2,000 notes totaled Rs six lakh and the bundles were of same series making it clear that it was issued from one bank.
The SBI has suspended its PRO Rashmi Ranjan Rout, the prime accused in the case. Country liquor baron Zeyarat Ali had confessed that Rout had helped in exchanging old currencies of Rs 45 lakh with new currency against payment of commission. The six others arrested include Zeyarat’s three sons.
Meanwhile, the Enforcement Directorate officials stated that they are examining the request.
Police on Monday had fast-tracked the investigation to trace the origin of the new currency. A team of police officials visited the main branch of SBI here and began investigation. They met the Chief Manager of the branch Aswini Kumar Das and also decided to request the RBI to obtain details of seized new currency based on the serial number of notes to track down the originating bank.
The Income Tax department too has also been informed about the seizure to pursue the source of income and tax angle, said the SP. It is leant that Zeyarat Ali operates many country liquor brewing units and foreign liquor shops across the region and also holds the power of attorney of many country liquor brewing units.