IPL council to hear DC mortgage case

August 14, 2012
DC


New Delhi, August 14: The IPL governing council will meet on Tuesday to decide the fate of Deccan Chargers, who have allegedly flouted rules by mortgaging their franchise to banks to enable them to tide over a tight cash situation, sources said on Monday.


Under IPL rules, franchise owners are not allowed to mortgage their teams and use the funds for other expenses. Members of the IPL governing council were recently informed by some lenders about their exposure to Deccan Chargers which is now part of Deccan Chronicles Holdings. The banks also wanted the cricket body to help get a security for their loan to the franchisee.

The Governing Council discussed the issue on August 9 but failed to arrive at a decision. They will be again grappling with the nettlesome issue on Tuesday.


IPL sources said that Deccan Chargers have taken a loan of Rs 480 crore from one private bank and Rs 170 crore from another by mortgaging their IPL franchise. Apart from these two banks, funds from other creditors are also said to be locked up in Deccan Chargers.

Owners of Deccan Chargers are expected to present their case while bank representatives will detail their grievances and seek a solution, the IPL sources said.

The promoters of Deccan Charges have been under financial stress of late and have pledged their shares with banks to raise funds.



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News Network
March 12,2020

New Delhi, Mar 12: No foreign player will be available for this year's IPL till April 15 due to visa restrictions imposed by the government to contain the novel coronavirus threat, a top BCCI source told PTI on Thursday, casting fresh doubts on the fate of the event.

"The foreign players who play in the IPL come under the Business Visa category. As per the government's directive, they can't come till April 15," a BCCI source told PTI on conditions of anonymity.

The government issued fresh advisory with a ban on all existing foreign visas, except a few categories like diplomatic and employment, till April 15 in the wake of new positive cases of novel coronavirus in the country.

India has reported 60 positive cases in the outbreak which has led to over 4,000 deaths globally.

The fate of the IPL itself will be decided on March 14 at the event's Governing Council meeting in Mumbai. "All decisions will be taken by the GC in Mumbai," the source said.

Having the IPL, starting March 29, played in empty stadiums is an option being explored.

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Agencies
July 20,2020

Vitoria, Jul 20: Lionel Messi won a record seventh top scoring title in the Spanish league after netting twice in Barcelona's 5-0 rout of Alav s in the final round.

Messi ended with 25 goals, four more than Karim Benzema, who did not score in Real Madrid's 2-2 draw at Legan s.

Messi is the first player to finish as the league's top scorer in seven different seasons. He reached the milestone despite missing games because of an injury early in the season. The Argentine's 25 goals came in 33 matches.

Messi was tied with Telmo Zarra with six scoring titles. He has also now equaled Hugo Sanchez's feat of four straight top-scorer trophies.

"Individual achievements are always secondary," Messi said on Sunday.

"I wished it could have come along with the league title."

This is also the third successive season that Messi finished with the most assists 21 in the league.

Ansu Fati, Luis Su rez and Nelson Semedo also scored Sunday for Barcelona, which had already secured second place behind Madrid.

Fati opened the scoring in the 24th minute, Messi added to the lead 10 minutes later and Su rez closed the first-half scoring in the 44th. Semedo got on the board in the 57th and Messi in the 75th to help Barcelona rebound from a 2-1 home loss to Osasuna.

"Today things were different," Messi said.

"The team showed better attitude and commitment. It was an important step forward for us ahead of what's left in the season."

Barcelona now turns its focus to its Aug. 8 home game against Napoli in the round of 16 of the Champions League. The first leg, played before the break, ended 1-1.

Barcelona coach Quique Seti n finished under pressure after the team relinquished a two-point lead over Madrid when the league resumed following the pandemic break. It was four points back before Madrid's match at Legan s.

Barcelona defender Cl ment Lenglet had to be substituted early in the second half because of an apparent muscle injury.

Alav s, sitting in 15th, had already done enough to stay up.

BAR A "B" TEAM

American winger Konrad de la Fuente scored twice as Barcelona's "B" team beat Valladolid B to keep alive its hopes of reaching the second division next season. The victory put Barcelona in the second round of the promotion playoffs.

The 19-year-old De la Fuente, who recently had his contract with Barcelona extended through the 2021-22 season, scored in each half.

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News Network
April 5,2020

New Delhi, April 5: England batsman James Vince lashed out at people for not taking proper measures to contain the spread of the coronavirus pandemic and said people are going out as if "everything is normal".

"Just seen the pictures of people out and about today as if everything is normal. What selfish people, surely by now they've realised this is serious. Well done to everyone who's doing their bit and staying in," Vince tweeted.

On March 13, the World Health Organisation (WHO) said that Europe was now the 'epicentre' of the disease.

The death toll due to the novel coronavirus in the UK has exceeded 4,313 with at least 708 new deaths in the last 24 hours, the largest one-day rise since the start of the outbreak as confirmed by the Department of Health and Social Care.

The total number of cases in the UK as on Saturday is 41,903, a rise of 3,735 cases in the last 24 hours.

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