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.



Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
May 8,2020

Karachi, May 8: A cricket museum based in India has bought a bat auctioned by Pakistan Test captain Azhar Ali to raise funds for the needy during the COVID-19 pandemic.

Azhar had put two of his precious belongings -- the bat he used to score 302 runs against the West Indies in a Test in 2016 and the jersey he wore during the 2017 Champions Trophy final win over India -- on an online auction to raise funds for the people affected by the deadly disease.

Both the bat and jersey were signed by members of the Pakistan team.

Azhar announced on social media that he had kept a base price of one million each for the bat and jersey and they had sold for 2.2 million.

He confirmed that Blades of Glory Cricket Museum based in Pune bought the bat by making a winning offer of Rs. 1 million for the bat.

Azhar said that the auction of the shirt also generated a lot of interest and Kash Villani, a Pakistani based in California, came up with the highest bid of Rs. 1.1 million for the shirt before the conclusion of the auction.

Another Pakistani based in New Jersey, Jamal Khan also donated Rs. 100,000 for the cause.

"I put two of my closest belongings on auction with base price of 1 million PKR each to support people suffering due to ongoing crisis. Auction starts now and will close on 11:59 PM 05 May, 2020," Azhar had tweeted.

Ali became the first international player to score a test triple century in Day/Night Test when he scored an unbeaten 302 against the West Indies team in UAE in 2016.

"The shirt is from 2017 Champions Trophy which we won, it has the signature of all the players which were present in the squad," Ali said in a video posted on Twitter.

"Both these things are close to my heart but if it can be used in the difficult times for the benefit of the people I will more than happy."

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
March 8,2020

Mumbai, Mar 8: Shikhar Dhawan, Hardik Pandya and Bhuvneshwar Kumar returned to India's ODI squad as the Board of Control for Cricket in India (BCCI) announced the team for the upcoming South Africa series.

South Africa are scheduled to tour India for a three-match ODI series, starting from March 12.

India's ODI squad: Shikhar Dhawan, Prithvi Shaw, Virat Kohli (C ), KL Rahul, Manish Pandey, Shreyas Iyer, Rishabh Pant, Hardik Pandya, Ravindra Jadeja, Bhuvneshwar Kumar, Yuzvendra Chahal, Jasprit Bumrah, Navdeep Saini, Kuldeep Yadav, Shubman Gill.

Cricket South Africa (CSA) have already announced their squad for the series and spinner George Linde was given maiden ODI call-up.

South Africa squad: Quinton de Kock (c, wk), Temba Bavuma, Rassie van der Dussen, Faf du Plessis, Kyle Verreynne, Heinrich Klaasen, David Miller, Jon-Jon Smuts, Andile Phehlukwayo, Lungi Ngidi, Lutho Sipamla, Beuran Hendricks, Anrich Nortje, George Linde, Keshav Maharaj, Janneman Malan.

The first ODI will be played in Dharamsala while the other two matches will be played in Lucknow and Kolkata on March 15 and 18, respectively.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
June 18,2020

Jun 18: Sri Lanka "sold" the 2011 World Cup final to India, the country's former sports minister said on Thursday, reviving one of cricket's most explosive match-fixing controversies. Mahindananda Aluthgamage, who was sports minister at the time, is the second senior figure to allege the final was fixed, after 1996 World Cup-winning skipper Arjuna Ranatunga. "I tell you today that we sold the 2011 World Cup finals," Aluthgamage told Sirasa TV. "Even when I was sports minister I believed this."

Aluthgamage, sports minister from 2010 to 2015 and now state minister for renewable energy and power, said he "did not want to disclose" the plot at the time.

"In 2011, we were to win, but we sold the match. I feel I can talk about it now. I am not connecting players, but some sections were involved," he said.

Sri Lanka lost the match at Mumbai's Wankhede stadium by six wickets. Indian players have strongly denied any wrongdoing.

Ranatunga, who was at the stadium as a commentator, has previously called for an investigation into the defeat.

"When we lost, I was distressed and I had a doubt," he said in July 2017. "We must investigate what happened to Sri Lanka at the 2011 World Cup final."

"I cannot reveal everything now, but one day I will. There must be an inquiry," added Ranatunga, who said players could not hide the "dirt".

Sri Lanka batted first and scored 274-6 off 50 overs. They appeared in a commanding position when Indian superstar Sachin Tendulkar was out for 18.

But India turned the game dramatically, thanks partly to poor fielding and bowling by Sri Lanka, who were led by Kumar Sangakkara.

Sri Lankan cricket has regularly been involved in corruption controversies, including claims of match-fixing ahead of a 2018 Test against England.

Earlier this month, the Sri Lankan cricket board said the International Cricket Council was investigating three unnamed former players over alleged corruption.

Sri Lanka introduced tough penalties for match-fixing and tightened sports betting restrictions in November in a bid to stamp out graft.

Another former sports minister, Harin Fernando, has said Sri Lankan cricket was riddled with graft "from top to bottom", and that the ICC considered Sri Lanka one of the world's most corrupt nations.

Former Sri Lankan fast bowler Dilhara Lokuhettige was suspended in 2018 for corruption relating to a limited-overs league.

He was the third Sri Lankan charged under the ICC anti-corruption code, following former captain and ex-chief selector Sanath Jayasuriya, and former paceman Nuwan Zoysa.

Jayasuriya was found guilty of failing to cooperate with a match-fixing probe and banned for two years. Zoysa was suspended for match-fixing.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.