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
February 27,2020

Melbourne, Feb 27: Shafali Verma's 34-ball 46 followed by a superlative performance from the bowlers helped India notch up a narrow four-run win over New Zealand in a crucial group A match of the ICC Women's T20 World Cup on Thursday.

Invited to bat, India posted a below-par 133 for eight against New Zealand in the crucial group A match with Shafali top-scoring with a 34-ball 46 and Taniya Bhatia chipping in with a 25-ball 23.

India, however, produced a disciplined performance with the ball to restrict New Zealand to 129 for six and register their third successive win in the tournament.

With this win, India topped Group A, having beaten Australia and Bangladesh in their last two outing.

Defending the total, India introduced spin straight away but Deepti Sharma bled 12 runs with opener Rachel Priest (12) hitting her for two boundaries.

But experienced pacer Shikha Pandey removed Priest in the next over when she had her caught at mid wicket.

With Shikha and left-arm spinner Rajeshwari Gayakwad bowling in tandem, New Zealand played with caution to reach 28 for one.

Back into the attack, Deepti then cleaned up Bates with a beauty of a delivery as New Zealand slipped to 30 for two.

Poonam Yadav and Radha Yadav then mounted the pressure on the Kiwis and soon the Black Caps were 34 for 3 when the former dismissed skipper Sophie Devine (14).

Maddy Green (24) and Katey Martin (25) then tried to resurrect the innings with a 36-ball 43-run stand.

However, Gayakwad returned to remove Green, who danced down the pitch only to end up with an outside edge as Bhatia did the rest.

Radha then dismissed Martin to leave New Zealand at 90 for 5 in 16.3 overs.

Needing 44 off 21 balls, Kerr (34) blasted four boundaries to accumulate 18 runs in the penultimate over bowled by Poonam to bring the equation down to 16 off six balls.

In the final over, Heyley Jensen (11) and Kerr cracked a four each but Shikha held her nerves in the end to complete the win.

Earlier, 16-year-old Shafali provided the fireworks as India scored 49 for one in the powerplay overs. But they lost six wickets for 43 runs to squander the good start.

Smriti Mandhana (11), who returned to the playing XI after missing the last match due to illness, departed early but Shafali and Taniya (23) kept the scoreboard ticking, adding 51 runs for the second wicket.

In the 10th over, Taniya was caught by Amelia Kerr at backward point, while Jemimah Rodrigues (10) was caught by Kerr in the 12th over as India slipped to 80 for 3.

Skipper Harmanpreet Kaur's (1) poor form also continued as she was soon back to the hut after being caught and bowled by Leigh Kasperek.

Shafali, who was dropped at long-on in the 8th over and at mid-wicket in the 10th over, then holed out to Jensen at deep extra cover. She had four hits to the fence and three maximum shots in her innings.

Left-handed batter Deepti Sharma (8) and Veda Krishnamurthy (6) brought up the 100 in the 15th over but both departed soon as India slumped to 104 for 6.

Radha Yadav then blasted 14 off nine balls, which included a six in the final over, to give some respectability to the total.

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Agencies
August 6,2020

New Delhi, Aug 6: The BCCI on Thursday suspended the IPL title sponsorship deal with Chinese mobile phone company Vivo for the event's upcoming edition amid heightened tensions in Sino-India diplomatic ties.

The BCCI sent out a one-line statement, without giving details, saying that Vivo would not be associated with the IPL this year. "The Board of Control for Cricket in India (BCCI) and vivo Mobile India Pvt Ltd have decided to suspend their partnership for Indian Premier League in 2020," the statement said.

Meanwhile, Vivo released its own statement saying that the two entities "have mutually decided to pause their partnership for the 2020 season".

Vivo won the IPL title sponsorship rights for five years from 2018 to 2022 for a reported sum of Rs 2,190 crore, approximately Rs 440 crore per annum.

The two parties are now working out a plan in which Vivo might come back for a fresh three-year period starting 2021 on revised terms.

However, a top BCCI official offered a different view. "Here we are talking about diplomatic tensions and you expect that after November, when IPL ends and before the next IPL starts in April 2021, there would be no anti-China sentiment? Are we serious?" a veteran BCCI official said on conditions of anonymity.

The anti-China sentiment in the country peaked after the violent face-off between the Indian and Chinese troops in eastern Ladakh. India lost 20 soldiers in the clash, while China also acknowledged unspecified casualties.

The stand-off at the Line of Actual Control (LAC) caused outrage across India with several calls for boycotts of Chinese companies and products.

The BCCI is now likely to float a tender for new IPL title sponsors as mandated by its constitution. The glitzy T20 league starts on Sept. 19 in the UAE, forced out of India due to the rising COVID-19 cases.

The new development is in stark contrast to what came out of Sunday's IPL's Governing Council meeting, where it was decided that Vivo, along with all the other sponsors, will remain on board.

This was after the BCCI had announced in June that all sponsorship deals pertaining to IPL will be reviewed in the aftermath of the clash in the Galwan Valley.

However, after Sunday's meeting, there was a huge backlash on social media about the BCCI holding on to Vivo.

Both parties then began thrashing out an amicable separation plan, at least for this season.

However, the end of this deal could spell losses for the franchises as they get a substantial share from the sponsorship pool. Half of the annual Vivo sponsorship money is distributed equally among eight franchises, which comes to Rs 27.5 crore.

"As of now, it will be very difficult for the BCCI to match the sponsorship amount at such short notice. Therefore, both BCCI and the franchises should be prepared to lose out on some money -- BCCI more but each franchise from Vivo's exit will potentially lose 15 crore," the official said.

"This year will be difficult for everyone but the show must go on," the official said.

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News Network
February 14,2020

London, Feb 14: Former Sri Lanka skipper and current Marylebone Cricket Club's president Kumar Sangakkara has said that the 2009 Lahore terror attack taught him about his own character and values.

His remarks came as MCC arrived in Pakistan to play T20I matches against Lahore Qalandars. This will mark his first return to the Gaddafi Stadium, where a shocking atrocity took place when the Sri Lankan bus was attacked by terrorists.

The Sri Lankan team was on their way to Lahore's Gaddafi Stadium for a Test match with Pakistan in 2009 when terrorists from the Taliban and Lashkar-e-Jhangvi (LeJ) fired indiscriminately at their bus. The attack left eight people dead and injured seven Sri Lankan players and staff.

Ever since the incident, no cricket team toured Pakistan to play a cricket series, however, the landscape changed last year as Sri Lanka paid a visit to the country to play a series across formats. After that, even Bangladesh toured Pakistan and now there are talks of South Africa going to the country to play a series.

"I don't think I need any flashbacks, because I remember that day and those moments so very clearly. It's not something I relive or wallow in. But it's an experience you should never forget, because it gives you perspective in terms of life and sport, and you learn a lot about your own values and characters, and those of others," ESPN Cricinfo quoted Sangakkara as saying.

"I have no reservations about talking about it, it's not something that upsets me, but these sorts of experiences can only strengthen you. Today I consider myself very fortunate to be able to come back here to Lahore, and at the same time remember the sacrifice of all those who lost their lives that day," he added.

Sangakkara said that every human has his own way of dealing with such adversity.

"I think everyone deals with it in their own personal way. But at the same time, what really unites us is that you face adversity and you face challenges, and you have to get past it, and you've got to do that successfully. It's about moving forwards and upwards and being part of cricket. Being Sri Lankan you learn those lessons quite well, because, throughout our civil war, cricket was a unique vibe," Sangakkara said.

"We speak about the attack at various times. We even have a laugh about it, in terms of what we went through because it helps sometimes to look at it with a bit of humour, even though there was a tragic loss of life, and other serious injuries within that incident," he added.

MCC in the weeklong tour will take on Lahore Qalandars in a T20 match at the Gaddafi Stadium later today.

Kumar Sangakkara will lead the MCC's twelve-man squad for the tour, which includes Ravi Bopara, Roelof van der Merwe, Ross Whiteley among others.

Fixtures for the upcoming tour are as follows:

MCC vs Lahore Qalandars, T20I, Gaddafi Stadium, February 14

MCC vs Pakistan Shaheens, ODI, Aitchison College, February 16

MCC vs Northern, Aitchison College, T20I, February 17

MCC vs Multan Sultans, Aitchison College, T20I, February 19.

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