Srinivasan rejects Modi responses


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A special general meeting is to be held on Saturday week to determine the future of Lalit Modi, the suspended Indian Premier League (IPL) chairman. N Srinivasan, the secretary for the Board of Control for Cricket in India (BCCI), has rejected the replies filed by Modi to the three show-cause notices, saying they were "not acceptable". In a letter to the members of the board Srinivasan rejected Modi's responses to the charges, saying that they merited further investigation. Srinivasan said he had passed this finding to the general body for ratification at the special general meeting.

"Since Mr Lalit Modi had accused me of being biased against him, after a thorough and careful reading of his explanation against the charges, I have passed an order that it was not acceptable," Srinivasan told the Press Trust of India. "So, as advised by BCCI president Shashank Manohar, my order has been referred to the members of the general body to ratify my decision on the SGM called on July 3.

"It is left to them to ratify my order after which the matter will be referred to the disciplinary committee. "The show-cause notices, his reply to them and my order have been dispatched to all the members and a decision will be taken at the meeting." According to Cricinfo, Srinivasan also said a new member would be appointed to the disciplinary committee since Manohar had recused himself following Modi's repeated requests for the same. Modi had also asked that Srinivasan also be recused from the hearings against him but that was not granted.

"Since Lalit Modi has also accused Mr Manohar [of being biased], he would be replaced by another member to be decided by the general body," Srinivasan said. Modi's lawayer, Mehmood Abdi, however, called the whole process "an eyewash". * Agencies

 

Company: Instabug

Founded: 2013

Based: Egypt, Cairo

Sector: IT

Employees: 100

Stage: Series A

Investors: Flat6Labs, Accel, Y Combinator and angel investors

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What is a credit score?

In the UAE your credit score is a number generated by the Al Etihad Credit Bureau (AECB), which represents your credit worthiness – in other words, your risk of defaulting on any debt repayments. In this country, the number is between 300 and 900. A low score indicates a higher risk of default, while a high score indicates you are a lower risk.

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The AECB collects information on your payment behaviour from banks as well as utilitiy and telecoms providers.

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By paying your bills on time and not missing any repayments, particularly your loan, credit card and mortgage payments. It is also wise to limit the number of credit card and loan applications you make and to reduce your outstanding balances.

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Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

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May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

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