Things are not going well in the Punjab Kings camp. As per reports from Cricbuzz, it is learnt that differences have cropped up between the franchise owners in Preity Zinta and Mohit Burman, who own the majority of the franchise.
Preity Zinta is reported to have issued a restraining order against Mohit Burman for selling a portion of his shares to another party. Reports claim that the Bollywood actress has filed an appeal in the Chandigarh High Court related to the same matter.
Preity Zinta holds a 23 per cent stake in the Punjab Kings franchise through KPH Dream Cricket Private Limited, while Mohit Burman holds the largest stake, with 48 per cent in KPH Dream Cricket Private Limited. Ness Wadia is the third owner of the promoter group, with a 23 per cent stake, while Karan Paul, the fourth owner, holds the remaining shares.
For the past few weeks, a lot of reports have been doing the rounds that Punjab Kings co-owner Mohit Burman, who is associated with the Dabur company, is planning to sell a portion of his shares. It has been learnt that he intends to sell 11.5 per cent of his stake to an unnamed party and this has not gone down well with Preity Zinta.
However, Mohit Burman denied the allegations and said that he had no plans to sell his Punjab Kings shares. Speaking to Cricbuzz, he explained, “I have no plans to sell my shares.”
Preity Zinta files suit against Punjab Kings co-owner Mohit Burman seeking interim relief and guidance in view of disputes and differences
A Tribune report claims that there are disputes and differences between Punjab Kings owners Preity Zinta and Mohit Burman. The Bollywood actress has reportedly filed a petition under Section 9 of the Arbitration and Conciliation Act, 1996 seeking interim relief.
The report said: “Preity Zinta claimed that Burman holds about 48 per cent of the shares and is also a member of the board of directors. She filed the petition under Section 9 of the Arbitration and Conciliation Act, 1996 seeking interim and directive relief in view of the disputes and differences between her and the respondent Mohit Burman.”
While the report does not clarify anything in this regard, Cricbuzz reports claim that Mohit Burman cannot sell his stake to a third party without first consulting the existing group of promoters. The stake can only be sold to a third party once the current promoters refuse to buy it.
There has been no clarification on the matter so far as Priety Zinta has not said anything about it. Even Ness Wadia also did not share anything but as per reports from Cricbuzz, it is learnt that the case has been fixed for hearing on August 20.
While things are not good on the outside, the same things are happening on the field as well. The franchise has not lived up to its performances with bat and ball in the league since the inaugural edition. They have reached the final once and the semi-final once. The franchise has reportedly been looking for an Indian coach in place of Trevor Bayliss ahead of the grand auction later this year.
