A day after the furore, Deccan reveal details | delhi | Hindustan Times
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A day after the furore, Deccan reveal details

With the ownership of the Indian Premier League's Kochi franchise kicking up a storm, the Deccan Chargers on Thursday sought to come clean on their shareholding pattern.

delhi Updated: Apr 16, 2010 00:53 IST

With the ownership of the Indian Premier League's Kochi franchise kicking up a storm, the Deccan Chargers on Thursday sought to come clean on their shareholding pattern.

In a statement issued to the Bombay Stock Exchange and the National Stock Exchange, Deccan Chargers revealed its ownership details.

“With reference to and in the light of various media reports and speculation regarding the shareholding pattern of Indian Premier League franchisees, we would like to place on record, Deccan Chargers is owned by Deccan Chargers Sporting Ventures Limited, a 100 per cent subsidiary of Deccan Chronicle Holdings Limited,” the statement read.

The statement also listed the Deccan Chargers Sporting Ventures Limited’s Board of Directors, headed by V Shanker as Chairman. The other Board of Directors named by the company are T Venkattaram Reddy, P K Iyer, N Krishnan, M Sukumar Reddy and G Kumar.

The Kochi team have been accused of hiding details of their shareholders by IPL chief Lalit Modi but the franchise has denied the allegations.

Never offered KKR stake to Sunanda: SRK

Shah Rukh Khan has denied offering Dubai-based businesswoman Sunanda Pushkar any stake in his Indian Premier League (IPL) team Kolkata Knight Riders.

“We never offered a stake in KKR to anybody ever, including this lady in the midst of Kochi thing,” Shah Rukh posted on his social networking site Twitter on Thursday.

Sunanda had claimed that she had previously been approached by Karim Morani of Kolkata Knight Riders to join them in a similar capacity, like that of Rendezvous Sports World, but had regretted that the timing was not convenient.

No comments, says Parinee partner

“We don't want to comment. You can contact the spokesperson,” is what Vipul Shah, partner in Parinee Developers, said when he was asked about the controversy over the Kochi IPL team.

Parinee Developers, a city-based real estate development firm, is a 26 percent stakeholder in the Kochi franchise. The company was formed by three partners — Shah, Haval Shah and Mukesh Patel in 2006. Patel also owns Shriram Vessels, a ship-breaking company, which has a 49.5 percent stake in Parinee. In Mumbai, the company is known for its project in the Bandra Kurla Complex.