S. Sreesanth’s company S36 Sports and Entertainment Private Limited had included running betting houses in India and abroad as one of its objectives.
According to S36 Sports’ memorandum of association filed with the registrar of companies in Bengaluru, the company’s main objectives are: “To run in India and/or abroad coaching centres, gymnasiums, health clubs, fitness centres, betting houses, indoor stadiums, sports physiotherapy centres, sports bars... in general by taking individual/corporate membership either with defined rights of access or otherwise and either directly or through franchisee arrangement or in partnership with others.”
Betting in India is banned and is a punishable offence under the Public Gambling Act of 1867. The Indian gambling market is estimated to be worth $60 billion (`3,30,000 crore) per year.
The company, named after Sreesanth’s sports shop S36 at Edappally in Ernakulam, was incorporated on September 29, 2010 in Bengaluru, with Sreesanth holding a 74 per cent stake and 53-year-old P. Sivakumar, a company secretary by profession, owning the rest.
Sivakumar, originally from Ernakulam, now stays at Tatapuram in Kochi. He heads the Muthoot Ernakulam Cricket Club. He is also one of Sreesanth’s coaches from his school days. Sreesanth has played for the ECC and continues to do so when he is home and there is a local tournament happening. Sivakumar has been a business partner of Sreesanth in his sports shop also. The longtime business partner, however, resigned as the director on August 20, 2012, probably hinting at discord between them. Though initial reports suggested the company is based out of Hyderabad, its filing with the RoC shows that the company’s office is located at HMT Layout, RT Nagar, Bengaluru