The Company in which Virat invested money becomes the Kit sponsor of Indian Cricket Team

Mumbai, 6/1 (AO Bureau): In February 2019, the captain of the Indian cricket team, Virat Kohli, invested in a company, which is now the official kit sponsor of the Cricket Board of India (BCCI). This may raise the issue of conflict of interest. Kohli has been allocated Rs 33.32 lakh compulsory convertible debentures (CCD) by Bengaluru-based company Galactus Funware Technology. The company owns the online gaming platform Mobile Premier League (MPL), which is owned by Ambassador Kohli.

On 17 November 2020, the BCCI announced MPL Sports as the new kit sponsor and official trading partner of Team India. Under this, the Indian men’s and women’s cricket team and U-19 team will support MPL jersey. Apart from Team India’s jersey, MPL Sports will also be able to sell other items of licensed Team India. Kohli was made the brand ambassador of MPL in January 2020. He had also previously supported the gaming platform.

According to the news published in the Indian Express, when Kohli was issued CCDs by the Galactus company in February 2019, he also issued 34 CCDs worth Rs 16.66 lakh to Cornerstone Sport and Entertainment Pvt Ltd. Significantly, Cornerstone CEO Amit Arun Sajdeh along with Captain Kohli are also partners in two other firms named Magpie Ventures Partners Private Limited and Virat Kohli Sports Private Limited.