CGOC bails out Weightlifting body with interest-free loan
August 26th, 2010 - 8:37 pm ICT by IANSNew Delhi, Aug 26 (IANS) The Commonwealth Games Organising Committee (CGOC) Thursday bailed out the Indian Weight Lifting Federation (IWLF) with an interest-free loan of $375,000 to be paid as fine to the International Weightlifting Federation (IWF) as a doping sanction.
Fined a total of $500,000, the IWLF had paid $125,000 of the amount and had been running around for the remaining amount to meet the Aug 31 deadline and ensure the participation of Indian lifters in the Oct 3-14 Commonwealth Games. The sports ministry and Indian Olympic Association (IOA) had refused to ante up the desired amount.
Sports ministry’s joint secretary Injeti Srinivas in a letter to CGOC chief executive Jarnail Singh Tuesday directed the CGOC to give interest-free loan of $375,000 (Rs1.75 crore) to IWLF to enable it to meet its obligation towards payment of penalty to IWF.
IWLF secretary-general Sahdev Yadav was relieved at the development.
“Yes, we have received the remaining money from the Organising Committee. We are very happy and thankful to both the government and the CGOC. We will get the money in our account tomorrow and we will transfer it to the IWF the day after. We will try to return the loan at the earliest,” Yadav told IANS Thursday.
“The players are also relieved that the whole thing has been sorted out and they will be able to participate in the Commonwealth Games. They are working hard to win as many medals for India.”
The IWLF was fined $500,000 by the IWF after six Indian weightlifters tested positive in dope tests last year.
- Sports ministry to CGOC: Give interest-free loan to weightlifting body - Aug 24, 2010
- Weightlifting body looks for loan to pay doping fine - Aug 21, 2010
- Weightlifting body hopes government will bail them out (Lead) - Aug 17, 2010
- Weightlifting federation lashes out at ministry, IOA - Aug 20, 2010
- Sports Ministry asks CWG Organising Committee to grant Rs 1.75 crore to IWLF - Aug 24, 2010
- Weightlifting federation pinning hopes on sports ministry - Aug 17, 2010
- CWG weightlifting: Dey and Rao add a silver and bronze to the kitty (RoundUp) - Oct 04, 2010
- Indian lifters sure of winning 'dope-free' medals at CWG (Weightlifting preview) - Oct 03, 2010
- CWG Weightlifting: Coach optimistic of gold in remaining weight categories (Interview) - Oct 05, 2010
- Doping cases will not affect India's performance in CWG: Bhanot - Sep 04, 2010
- Two CWG gold medallists in weightlifting squad for Asian Games - Oct 21, 2010
- IOA sets up panel to look into weightlifters' doping cases - Oct 15, 2009
- Two athletes, four wrestlers suspended after testing positive (Lead) - Sep 02, 2010
- Sports ministry says 103 Indian players have failed doping tests - Sep 12, 2010
- Four Indian wrestlers test positive, out of CWG squad - Sep 02, 2010
Tags: bails, cgoc, chief executive, commonwealth games, crore, dope tests, indian lifters, indian olympic association, interest free loan, international weightlifting federation, ioa, iwf, medals, New Delhi, obligation, organising committee, secretary general, sports ministry, srinivas, yadav