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
May 2,2020

Melbourne, May 2: After becoming the number one side in Test cricket, Australia's head coach Justin Langer has said that his team has won back the respect of the country.

Australia dethroned India from the top spot in Tests and now the Men in Blue are in the third place.

Langer came in as the coach of Australia after the 2018 ball-tampering scandal and it took him some time to get the side back to winning ways.

Ever since the return of David Warner and Steve Smith, Australia went on to become a commendable side and the results reflect that.

"We have got lots of work to do to become the team we want to be. But over the last couple of years, not only have we performed well on the field, we have performed well off it. We have earned some respect back from other teams around the world but also from Australia," Langer said in an official statement.

"When we started on this journey, there had been a lot of talk about Australia wanting to be No. 1 in the world in all three forms of the game.

We took a different approach. Not once did we talk about being No. 1 ranked in the world. We wanted to be No.1 in our values and process. That is what I am most proud of," he added.

In the latest ICC rankings update, that rates all matches played since May 2019 at 100 per cent and those of the previous two years at 50 per cent, Australia (116) have taken over from India as the top-ranked side in the ICC men's Test team rankings with New Zealand (115) remaining in second place.

India is now third with 114 points. With only two points separating them, this is the second closest the top three teams have been since the Test rankings were launched in 2003.

The closest for the top three teams were in January 2016, when India had led Australia and South Africa by a single point.

Australia has also moved to the top spot in the T20I rankings for the first time in the format.

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News Network
March 29,2020

New Delhi, Mar 29: Former Indian batsman Wasim Jaffer on Sunday picked his all-time IPL team and appointed wicket-keeper batsman MS Dhoni as its captain.

Jaffer's team's feature opener Rohit Sharma, current Indian skipper Virat Kohli, all-rounder Hardik Pandya, spinner R Ashwin, and pacer Jasprit Bumrah as seven domestic players.
While the foreign players spot have been occupied by West Indies' swashbuckling batsman Chris Gayle, all-rounder Andre Russell, Afghanistan's spinner Rashid Khan, and Sri Lanka's veteran pacer Lasith Malinga.
Indian all-rounder Ravindra Jadeja has been picked as 12th man by Jaffer.

Earlier this month, the Board of Control for Cricket in India (BCCI) decided to postpone the IPL to April 15, 2020, as a precautionary measure against COVID-19 outbreak.
The board also assured that it will work in unison with the Sports Ministry and will adhere to the guidelines issued.

The 13th edition of IPL was scheduled to commence from March 29. 

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News Network
April 28,2020

New Delhi, Apr 28: IPL franchise Royal Challengers Bangalore's Director of Cricket Operations Mike Hesson returned to New Zealand on Tuesday after being stranded in India for over a month amid the nationwide lockdown to combat the COVID-19 pandemic.

The ex-New Zealand player and coach had arrived in India on March 5 for the 13th edition of the Indian Premier League but was stuck in the country after the lockdown was imposed and all flights were suspended.

"What a wonderful sight after spending over a day on a bus to get to Mumbai airport. The staff on @FlyAirNZ were simply outstanding on our return to New Zealand," Hesson tweeted.

He also thanked Indian Prime Minister Narendra Modi, the New Zealand Embassy in India, New Zealand's Ministry of Foreign Affairs and New Zealand's Prime Minister Jacinda Ardern.

"Special thanks to Down pointing backhand index @NZinIndia @MFATNZ @narendramodi @jacindaardern #repatriationflight #india #NZ" he added.

To stem the spread of the coronavirus outbreak, India and New Zealand had announced lockdowns in their respective countries last month, alongside travel restrictions, forcing the 45-year-old to stay in Bengaluru.

While India remains in lockdown till May 3, New Zealand eased its stringent measures on Tuesday.

The IPL, which was originally scheduled to get underway on March 29, has been suspended until further notice due to the pandemic.

The cornavirus outbreak, that originated in the Chinese city of Wuhan, has infected over 30 lakh people across the world while killing more than two lakh.

All sporting events, including the Tokyo Olympics, have either been cancelled or postponed.

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