Mumbai: NSCI members spar over Rs 80 crore losses

The National Sports Club of India (NSCI), one of Mumbai’s premium clubs, is in troubled waters once again. A camp within the elected members of the club has alleged that the club is planning to hold its Annual General Meeting (AGM) in Delhi, this year as well because the club has suffered a loss of around Rs 80 crore in the last two years.

The NSCI stadium. File pic
The NSCI stadium. File pic

The opposition camp, named Dr Nichani’s Action Committee (DNA) has alleged the club is suffering losses despite holding events at the Sardar Vallabhbhai Patel stadium. To avoid a ruckus at the AGM, they are holding it at Delhi instead of Mumbai, DNA says. The club will also have an election for 12 members on February 7, who are scheduled for retirement. Of these, six members will be from Mumbai, and six will be from Delhi.

Viren Shah, member of DNA and NSCI said, “As elected representatives and DNA core team members, we have raised several issues where the code of conduct was being violated. Since the last two years, NSCI Club’s loss in the balance sheet is Rs 80.5 crore and in this year alone, it is Rs 51.30 crore. At this rate, experts claim the club will be declared bankrupt in the next two years. They weren’t even releasing the balance sheet, but after we pressed for it, they came out with it and now they stand exposed with the losses.”

Shah added, “However, as per club rules, AGM should have taken place in Mumbai as last year AGM was held in Delhi. But due to a massive Rs 50 crore loss last year in Mumbai, they don’t want to hold the AGM here so as to avoid a confrontation with other members.”

DNA claims they have even started submitting an affidavit and will take action against errant members.

“Under DNA this year, we have made affidavits for all our candidates and core team members for good governance and honesty. Any DNA member indulging in corruption will be expelled by us,”
said Viren Shah.

DNA had organised a public debate on Tuesday, where they had invited people from the management, but they didn’t attend it.

NSCI president says
Refuting Viren’s claims, Jayantilal Shah, President of the club said, “As per the Rules and Regulations of the club, AGM can be held either at Delhi or Mumbai. The executive committee takes this decision and therefore, it is incorrect to say that the AGM is being held in Delhi because of any purported loss suffered by the club. AGM’s have also been held in Mumbai.”

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