Seems like all is not well in the internal matters of the Punjab Kings (PBKS) franchise of the Indian Premier League (IPL). Even though there is no official confirmation in this regard, differences seem to have creeped in among the owners of the team. The matter seems to have gone out of hand so much so that Preity Zinta, who is one of the four co-owners of the franchise, has gone to court seeking a restraining order against another promoter.
A report carried by Tribune suggests that the Bollywood actress who has a 23 per cent shareholding in the team through KPH Dream Cricket Private Limited has filed an appeal in the Chandigarh High Court. What the 49-year-old actor wants is a restraining order from the court to prevent co-owner Mohit Bumran from selling a portion of his shares to another party.
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Reason For Preity Zinta Seeking Restrainig Order Not Clear
"Preity Zinta said Burman holds approximately 48 per cent 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," the said report in the aforementioned publication mentioned.
Even though the original report does not mention a specific reason for Preity seeking the order from the High Court, a separate report carried by Cricbuzz suggests that the as per the orginal agreement if a co-owner intends to sell a stake of the team, it should first be offered to the already existing promoters. Only when the current promoters refuse to purchase it, shall it be offered to an outside party.
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PBKS are one of the orginal eight teams that took part in the inaugural season of the competition. In 17 seasons though, they have failed to lift the trophy even once, reaching the final only once.