IPL team Kings XI file criminal complaint against main sponsor
The Kings XI Punjab have filed a criminal complaint with the SSP, Chandigarh, against their principal sponsors, NVD Solar Limited, for non-payment of dues amounting to Rs 13.9 crore approximately.india Updated: Oct 17, 2013 00:20 IST
The Kings XI Punjab have filed a criminal complaint with the SSP, Chandigarh, against their principal sponsors, NVD Solar Limited, for non-payment of dues amounting to Rs 13.9 crore approximately.
KXIP co-owner, Ness Wadia, said the Kolkata-based company had entered into a three-year deal with the franchise for carrying the company's logo on the team kit in this year's IPL for Rs 14.3 crore per annum. But after paying an amount of Rs 42 lakh, the company failed to make further payment.
"Whenever we approached the company for payments, we were given fake accounts of Deutsche Bank, London, Wells Fargo Bank, New York, Common Suisse Bank Limited and fake names of officials. Even the emails sent to us were from fake IP addresses," said Wadia.
He went on to add that NVD tendered four cheques of Rs 25 lakh each to the franchise between June and August but all of them bounced.
"We have been a franchise for the past seven years and generally all the vendors and companies we have dealt with have paid the amount, but here they are refusing to acknowledge the agreement, leaving us with no option but to take legal action," said Wadia.
NVD Solar refuted the claims with its CEO, Saibal Kumar Hazra, saying his company was not running away from the deal.