The Kerala NRI businessman Mukkattu Sebastian, in Dubai has announced a total of Rs 7.5 million as a cash prize to the Indian sports stars who won medals at the Rio Olympics.
Mukkattu Sebastian has announced a cash prize of Rs 5 million for ace shuttler P. V Sindhu, who is a silver medallist and Rs 2.5 million for bronze medallist for wrestler Sakshi Malik at Rio Olympics 2016.He is also planning to honour the Olympic medallist in Kochi by hosting a function. This Indian businessman was indeed very proud to honour them who have saved the face of India at Rio.
Mukkattu Sebastian is based in UAE for four decades and owns Mukkadan plantations. He is basically from Kottayam district in Kerala. He also owns autobahn car rentals in Bengaluru.
P. V Sindhu was honoured as she was the youngest and first ever woman to win silver medal and Sakshi was honoured as she was the first ever woman to win in wrestling in Olympics and as the first medal in India.
Mukkattu Sebastian has kept 10 million cash prize for the gold medallist. He is not a very rich person but wanted to cherish and honour the Indians who had saved the face of India at Rio Olympics 2016. “These two girls saved the face of India at Rio. I am so proud of them and wanted to honor them with a cash award,” Sebastian said. “I am not a very rich person. But I want to do whatever I can,” he said.
He also said that he would also request the Olympic committee to recommend to the finance minister a tax exemption for the prize money. “Otherwise, they will have to pay 30 per cent of the prize money as tax,” Sebastian pointed out.