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
July 24,2020

Bengaluru, Jul 24: Bangladesh all-rounder Shakib Al Hasan, who was earlier banned by the International Cricket Council (ICC) for breaching the Anti-Corruption Code, on Friday, said that people are bound to make mistakes and the important thing is that how well they make a comeback.

Shakib was banned from all forms of cricket on October 29 last year after he accepted the charges of breaching the ICC's Anti-Corruption Code. He will be able to resume international cricket from October 29, 2020.

"You have to be honest. You just can't lie to the people and pretend different things. Whatever happened has happened. People are bound to make mistakes. You are not 100%. The important thing is how well you can comeback from those mistakes. You can tell other people not to make those mistakes. Tell them the path so that they never take those paths," Shakib told Deep Dasgupta in a videocast hosted by ESPNcricinfo.

The 33-year-old all-rounder said he has seen many controversies ever since he was first made captain in 2009. He had trouble with the board chief, selectors and the media, mainly about selectorial decisions and not being made permanent captain between 2009 and 2010.
He believes those experiences have changed him as a person over time.

"I think [it's] combination of both [controversy following him, and vice versa]. I got the responsibility so early in my career, I was bound to make mistakes. I was captain when I was 21. I made a lot of mistakes, and there are so many things that people think about me. Now I realise that it was my fault in some areas, and in some I was misunderstood. But I get it completely. It is part and parcel in the subcontinent," Hasan said.

"Of course I will try to minimise [my mistakes] as much as I can, but by the time I got married, and now I have two kids, I understand the game and life better. It has made me a calmer person than I was in my twenties. I have changed quite a lot. People won't see me doing a lot of mistakes now. My two daughters changed my life completely," he added.

Shakib is likely return to international cricket during Bangladesh's proposed Test series against Sri Lanka in October. 

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News Network
June 15,2020

Melbourne, Jun 15: Star Indian all-rounder Ravindra Jadeja is the best fielder in the game right now, according to Australian batting star Steve Smith, who also rated KL Rahul as the most impressive among the younger crop.

Smith, who answered questions sent in by his fans on Instagram on Sunday, also said the Indian Premier League is his favourite tournament to play in.

Jadeja known for his quick and sharp fielding tactics has earned praise from several former players and respect from the current stars and Smith is no different.

Asked who the best fielder in the current lot of players Smith simply replied stating it was Jadeja.

When quizzed about which Indian player has impressed him the most, the Australian batting mainstay said: "KL Rahul. Very good player!"

Rahul, who has played 36 Tests, 32 ODIs and 42 T20Is for Indian, has become a regular member of the national team in white-ball cricket. Besides showcasing his skills with the willow, Rahul also bears the responsibility of being the wicketkeeper in the limited overs format.

Asked Mahnedra Singh Dhoni, Smith responded saying the former Indian skipper is a "Legend! Mr Cool". While he called the current captain Virat Kohli a "freak" when it comes to batting ability.

The Rajasthan Royals batsman, who rated his first innings his 144 at Birmingham in the first Ashes Test last year as his favourite Test knock till date, said the Indian Premier League (IPL) is his favourite tournament.

"Tough to beat the IPL. Playing with and against the best players from around the world."

India is scheduled to travel to Australian for a full series later the year and the 31-year-old said : "Can''t wait. Going to be awesome."

Asked about his opinion on India batting great Rahul Dravid, Smith said "what a lovely gentleman and seriously good player."

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News Network
January 28,2020

Gibraltar, Jan 28: Young Indian Grand Master R Praggnanandhaa pulled off a huge upset, beating former world champion Veselin Topalov in the sixth round of the 18th Gibraltar chess festival to record his fifth straight win here.

The 14-year-old Chennai lad needed just 33 moves to put it across the Bulgarian. He had started with a loss against compatriot P V Nandhidhaa but since then he has been on a winning spree.

Praggnanandhaa, who recently won the world under-18 title, said: "It was very tough to prepare against him."

He is in second spot on five points with six other players and will take on Chinese GM Wang Hao in the seventh round.

Seventeen-year-old Russian GM Andrey Esipenko jumped to sole lead with 5.5 points with a win over Georgia's Ivan Cheparinov

The Russian player would be unpaired in the seventh round as he decided to take a bye.

A bunch of players including Indians — B Adhiban, K Sasikiran, Shardul Gagare, Karthikeyan Murali, SL Narayanan — are in joint third place with 4.5 points.

Adhiban beat Gabriel Flom, while D Gukesh, the world's second youngest Grand Master ever, defeated Martin Percivaldi to move to four points.

Also winning were Karthikeyan Murali against Qi B Chen and Gagare over France's Maxime Lagarde.

Top-seed Shakhriyar Mamedyarov's moderate run continued as he was held to a draw by GM Aryan Chopra.

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