Amid a controversy over finances of the Twenty20 cricket body IPL, the government today said the Registrar of Companies has not found anything wrong with the balance-sheets of IPL franchisees and no company has given sweat equity to anyone.<br/><br/>Corporate Affairs Minister Salman Khurshid said this after a meeting with regional RoCs, who were earlier asked to look into the ownership pattern of each IPL team.<br/><br/>Mr. Khurshid also said some franchisees have not been up-to-date in terms of filing of balance-sheets and RoCs have issued notices to them to do so by May three, or face proceedings under the Companies Act.<br/><br/>He said, the government will initiate proceeding as per the Companies Act if these companies do not file balance-sheets by the stipulated time.<br/><br/>He added that as and when more information is collected and if some irregularities are found, the matter will be investigated.<br/><br/>The third edition of IPL was embroiled in controversies, including allegations about the union ministers influencing the auction of IPL franchisees.<br/><br/>Shashi Tharoor resigned as Union Minister of State for External Affairs over allegations that he influenced award of sweat equity to his friend Sunanda Pushkar in the Kochi team.<br/><br/>The authorities have since launched probe to trace the finances of the cricket body and its franchisees.<br/>