Following the complaint filed by owners of Kings XI Punjab, the Chandigarh Police have marked an inquiry against the team's principal sponsor, NVD Solar Limited, for non-payment of dues amounting to Rs. 13.9 crore.
Kings XI Punjab, the local cricket team for the Indian Premier League (IPL), had filed a criminal complaint with the police on October 16.
KXIP co-owner Ness Wadia said in the complaint that Kolkata-based NVD Solar had entered into a three-year deal with the franchisee for carrying their company's logo on the team kit in this year's IPL for Rs. 14.3 crore per annum; but after initially paying Rs. 42 lakh, the firm failed to pay.
The Chandigarh police senior authorities said they have marked an inquiry into the complaint. A senior functionary on the condition of anonymity said they have not registered a case in the matter. The complaint was forwarded to economic offences wing and now an inquiry had been marked to know the facts of the case. The FIR would be registered in the matter only after the verification of facts.
Wadia had stated in the complaint that the firm gave them four cheques of Rs. 25 lakh each but they also were dishonoured.
“We have been a franchisee [of IPL] for the past seven years, and generally all vendors and companies that we have dealt with in the past have paid the amount, but here they are refusing to acknowledge the agreement leaving us with no option but to take a legal action,” Wadia added.
NVD Solar, however, refuted the claims with its CEO Saibal Kumar Hazra saying that his company was “not running away from the deal”. Hazra claimed that KXIP had never actually entered into an agreement with the Indian firm of the group but with Bangladesh-based NVD Solar International Limited.