Star India Pays 82 Crores to Maharashtra Government

Star India Pays 82 Crores to Maharashtra Government

Star India Pays 82 Crores To Maharashtra Government
Image Courtesy: Twitter

The deal between Star India and BCCI seems to have benefitted the Maharashtra State Government, as Star had to pay nearly 82 crores to the state government.

An official of the department of stamps and registration claimed the Maharashtra government profited 82 crores form the recent media rights deals for IPL between and BCCI and Star India. They piped Sony Entertainment who held the rights for the past ten years.

Star India Pays 82 Crores to Maharashtra Government 1
Image Courtesy: Twitter

Star India won the rights for a whopping Rs 16,437 crores to broadcast IPL for the next five years. Star India had to pay 83 crores as Stamp duty to the Maharashtra Government. As per the Act, any such event which exceeds Rs 10 Lakhs has a stamp duty of 0.5 percent. The Stamp and registration department approached the BCCI after reading about the deal through print and TV media and took up the matter with the officials. An official from office said,

“After coming to know from print and TV media about the contract, we took up the matter with the Board of Control for Cricket in India (BCCI), with whom Star India signed the contract, as per the Act, the contract agreement covering exclusive rights of telecasting, broadcasting or exhibition of an event or a film attracts stamp duty of 0.5 percent of the amount agreed to in the contract, if the agreement amount exceeds Rs 10 lakh,”

The official also thanked the head of Committee of Administrator (CoA), Vinod Rai for helping them in a speedy recovery of the amount from the party, as he said,

“The positive approach of Vinod Rai, head of the Supreme Court-appointed Committee of Administrators of BCCI, helped in the speedy recovery of the amount.”

Star India paid a stamp duty of Rs 81, 73, 75,500 to the Maharashtra Government. The Official added,

“Till last year, it was observed that parties which entered into contracts with BCCI were not keen to pay the stamp duty amount. As a result, the state government lost a big amount which could have come into its kitty, This year the authorities decided to be proactive and sent teams to BCCI and concerned firms in a bid to garner the stamp duty,”

A few months ago the department also received 5.39 crores as a result of a deal between Oppo electronics and BCCI. He said,

“The stamp duty on the agreement came to Rs 5.39 crore, which was 0.5 percent of the total amount and was paid by Oppo.” 

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