According to reports, differences have emerged between Punjab Kings owners Preity Zinta and Mohit Burman who holds the major share in the franchise.
It is understood that Preity Zinta has issued a restraining order against Mohit Burman for selling a part of his shares to another party. The reports claimed that the actress has filed an appeal in the Chandigarh High Court related to the same matter.
Preity Zinta holds a 23 percent share in the Punjab Kings via KPH Dream Cricket Private Limited while Mohit Burman holds the largest share with 48 percent in KPH Dream Cricket Private Limited.
Ness Wadia is the third owner in the promoter group, possessing 23 percent shares, while Karan Paul, the fourth owner, holds the remaining shares. In the last few weeks, there have been a lot of reports on Mohit Burman who is associated with Dabur company is planning to sell 11.5 percent of his stake to an unnamed party which disturbs Preity Zinta.
However, Mohit Burman denied the allegations of him selling his shares of Punjab Kings. “I don’t have any plans to sell my shares,” said Mohit Burman on media.
The report stated that “Preity Zinta said Burman holds approximately 48 percent of the shareholding and is also on the board of directors. She has filed the petition under Section 9 of the Arbitration and Conciliation Act-1996 seeking interim measures and direction in view of the disputes and differences between her and respondent Mohit Burman.”
Although the report doesn’t give any clarity related to the same, the reports stated that Mohit Burman cannot sell his stake to an outside party before getting permission from the board. The stake can only be sold to an outside party once the current promoters decline to purchase it.
The external matters are not good, and the same thing is not happening on the field as well. The franchise hasn’t been up to the mark with their performances with the bat and ball in the league since the inaugural edition.
The franchise is unlikely to renew head coach Trevor Bayliss’s contract and will be looking for a new Indian coach ahead of the mega auction this year. They have been the original eight teams of the IPL. They had been underperforming in the IPL as they have reached the finals once and semi-finals once.
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