The Board of Control for Cricket in India (BCCI) appears to have lost the first round in its tussle against the Indian Premier League teams Kings XI Punjab and Rajasthan Royals it terminated over alleged violation of shareholding.
The Bombay High Court, on Wednesday, stayed the termination of King’s XI Punjab’s franchisee contract, allowing it to continue in the league. The single judge bench of Justice SJ Vazifdar gave the order.
The IPL team would, however, have to furnish two bank guarantees to the BCCI by January 3 – $18m (Rs 82.80 cr) and $ 3.5m (Rs 16.10 cr). The consortium led by actress Priety Zinta, industrialist Ness Wadia, and businessmen Mohit Burman and Karan Paul will also have to meet other conditions. Sources indicated that the BCCI would challenge the HC order. “We have not received the copy of the order yet. I can’t say what our course of action will be,” said BCCI president Shashank Manohar.