ICC Champions Trophy: Winners to receive prize money of USD 2.24 million
Dubai, Feb 14 (PTI): Winners of the upcoming Champions Trophy will walk away with a whopping USD 2.24 million cash reward after the International Cricket Council (ICC) announced a 53 per cent hike in its prize money pool for the eight-team tournament starting February 19.
The winners' purse would be close to 20 crore in Indian currency. The runners-up will receive half the amount, USD 1.12 million (INR 9.72 crore), while each losing semi-finalist will take home USD 560,000 (INR 4.86 crore). The total prize pool has increased to USD 6.9 million (Rs 60 crore approx).
"The substantial prize pot underscores the ICC's ongoing commitment to investing in the sport and maintaining the global prestige of our events," ICC chairman Jay Shah said in a statement ahead of the tournament which will be held in Pakistan and the UAE.
Each group stage win would be worth over USD 34,000 (INR 30 lakh) for the victorious team.
Teams finishing in fifth or sixth place will receive USD 350,000 each (INR three crore), while the seventh and eighth-placed sides will take home USD 140,000 (INR 1.2 crore).
Additionally, all eight teams will receive a guaranteed USD 125,000 each (INR 1.08 crore) for participating in the event.
This tournament marks the first time Pakistan will host an ICC event since 1996. However, India will play all their matches in Dubai owing to security concerns related to travelling to Pakistan. Rohit Sharma's men will begin their campaign on February 20 against Bangladesh.
The Pakistan leg will feature games in Karachi, Lahore and Rawalpindi.
The 2025 edition features eight teams split into two groups of four, with the top two from each group advancing to the semi-finals.
"The ICC Men's Champions Trophy 2025 represents a pivotal moment for cricket, reviving a tournament that highlights the pinnacle of ODI talent, where every match is critical," the ICC chairman emphasised in his statement.
"Beyond the financial incentive, this tournament ignites fierce competition, captivates fans worldwide, and plays a vital role in fostering the growth and long-term sustainability of cricket for future generations," Shah added.
The men's Champions Trophy was held every four years from 2009 to 2017 before a COVID disruption and deliberations on its relevance led to it being postponed. The tournament was first introduced as a biennial event in 1998.
The women's Champions Trophy will make its debut in 2027 in the T20 format.
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ED arrests Sandeepa Virk, 'cosmetologist' for alleged money laundering
New Delhi, Aug 13 (PTI): The Enforcement Directorate said on Wednesday it has arrested a woman, who claims to be an actor and a cosmetologist, under the anti-money laundering law in a case of alleged fraud and misrepresentation.
The agency said the purported links of the woman, Sandeepa Virk, with a Reliance Group executive, Angarai Natarajan Sethuraman (President, Corporate Affairs), are also under its scanner. Sethuraman, in a statement, denied any connection with Virk or any transactions related to her.
Virk was taken into custody under the Prevention of Money Laundering Act (PMLA) on Tuesday after searches were conducted against her and her associates in Delhi and Mumbai over the last two days.
A special court sent her to the ED's custody till August 14, the agency said. The woman claims to be the owner of a skin care products selling website named hyboocare.com, which the ED claimed was a "front" for money laundering.
She and her associates are being probed for allegedly exerting undue influence through "misrepresentation" and "defrauding" individuals by soliciting money under false pretences.
According to an Instagram ID of Virk, she is an actor and entrepreneur and the founder of the said website.
The federal agency said in a statement that the woman was also "in touch with" Sethuraman, former director of erstwhile Reliance Capital Limited.
She was communicating with him regarding "illegal liaisoning", the ED claimed, adding that the searches at Sethuraman's residence "confirmed" these allegations.
"Besides, diversion of funds for personal benefit has also been unearthed during the course of the search action," it said.
The ED alleged that public money worth about Rs 18 crore belonging to Reliance Commercial Finance Limited (RCFL) was disbursed to Sethuraman in 2018 by "flouting" prudent lending norms.
The funds were lent under terms that allowed a deferment of the principal amount as well as the interest, with multiple waivers granted and no due diligence conducted, it said.
The ED claimed that besides this, a home loan of Rs 22 crore was provided by Reliance Capital Limited by "violating" the prudential norms. "A large part of these loans are seen to have been eventually siphoned off and remained unpaid," it alleged.
Sethuraman, in a statement, dismissed the allegations as "baseless". He denied any connection with Virk or any transactions related to her.
Detailing about Virk's web portal, the agency said it purportedly sold FDA-approved beauty products. However, the ED said the products listed on the website have been found to be non-existent and the portal lacks a user registration option and is plagued by persistent payment gateway issues.
A scrutiny of the website uncovered minimal social-media engagement, an inactive WhatsApp contact number and an absence of transparent organisational details, all of which reinforce the finding of "non-genuine" commercial activity, the ED claimed.
"These factors, including limited product range, inflated pricing, false claims of FDA approval and technical inconsistencies, indicate that the website serves as a front for laundering funds," it said.
Another social media-hosted bio data of the woman said she is a certified cosmetologist.
The ED said several "incriminating" documents were seized during the searches and the statement of a man named Farrukh Ali, stated to be an associate of Virk, was recorded.
The money-laundering case stems from an FIR lodged by the Punjab Police.
Sethuraman said that the home loan he received from Reliance Capital was granted following due process and was secured by the property offered as collateral.
