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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Agencies
February 7,2020

Sydney, Feb 7: "I received a message from Brett Lee," said former India cricketer Sachin Tendulkar on Friday when asked as to who recruited him to take part in the Bushfire relief fundraiser match.

Tendulkar will be coaching the Ponting XI in the upcoming Bushfire Bash on Sunday, February 9 at the Junction Oval.

"I received a message from Brett Lee. Brett said that Kevin (Roberts, Cricket Australia's chief executive) would like to be in touch with you. It was a no-brainer. From the moment I was asked, I said, 'yes I'm more than happy to come here," cricket.com.au quoted Tendulkar as saying.

Bushfire Bash was originally slated to be played at Sydney on Saturday but weather forecast prompted Cricket Australia to reschedule the game to ensure the best possible pitch and outfield conditions for the final of Big Bash League.

The match will be played to raise funds and all match profits will go to the Australian Red Cross Disaster Relief and Recovery Fund.

"This is an alarming situation, it's catastrophic - that's an understatement. You see the number of lives it has affected, not only humans but also wildlife which sometimes people don't talk about. That is equally important. I'm so happy I'm here in whatever way to support the cause, to raise money," Tendulkar said.

Ponting XI: Matthew Hayden, Justin Langer, Ricky Ponting (c), Elyse Villani, Brian Lara, Phoebe Litchfield, Brad Haddin (wk), Brett Lee, Wasim Akram, Dan Christian, Luke Hodge. Coach: Sachin Tendulkar

Gilchrist XI: Adam Gilchrist (c & wk), Shane Watson, Brad Hodge, Yuvraj Singh, Alex Blackwell, Andrew Symonds, Courtney Walsh, Nick Riewoldt, Peter Siddle, Fawad Ahmed (one more to be announced). Coach: Tim Paine

The Bushfire Bash exhibition match will be a 10-overs-per-side contest, with a five-over Powerplay, no bowling restrictions, and batters unable to get out from the first ball they face.

Bowlers will not have over limits, fielders can sub on and off as it suits, while captains will have the ability to sub batters in and out during an innings.

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News Network
May 28,2020

New Delhi, May 28: India is not at risk of losing hosting rights for next year's Twenty20 World Cup despite its cricket board's failure to secure a tax exemption for the event, a key BCCI official has told Reuters.

Tax exemptions for International Cricket Council (ICC) events are listed as a requirement in host agreements and the BCCI was supposed to confirm they had secured one by May 18.

ESPNcricinfo, citing correspondence between the two bodies, has reported that the ICC has threatened to shift the tournament away from India over the issue.

However, BCCI treasurer Arun Singh Dhumal told Reuters that would not happen and that negotiations were continuing.

"There is no risk to the tournament," he said by telephone.

"That is a work in progress. We are discussing it with the ICC and we'll resolve it."

The BCCI encountered a similar problem when it hosted the event in 2016 when the government refused to provide a tax exemption, and there has been no change in New Delhi's stance despite the board's appeals.

Failure to secure that exemption in 2016 saw the ICC withhold an equivalent sum from India's share of revenue from the governing body's grants and it appears to be taking an even harder line this time around.

"There are certain timelines within the agreements that we collectively work towards to ensure we can deliver successful world class events and continue to invest in the sport of cricket," an ICC spokesperson told Reuters.

"In addition to this the ICC Board agreed clear timelines for the resolution of the tax issues which we are guided by."

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Agencies
January 6,2020

Washington D.C., Jan 6: 'The Irishman,' and 'Two Popes' were shut out from the winners list despite getting multiple nominations, the movies didn't win a single award at the Golden Globes Award held on Sunday (local time). Other movies in the list include 'Bombshell,' 'Dolemite Is My Name,' 'Harriet,' 'Jojo Rabbit,' 'Knives Out' and 'Little Women.'

According to The Hollywood Reporter, 'The Irishman' may have gone into the 2020 Golden Globes with the second-highest number of film nominations, tied with 'Once Upon a Time in Hollywood' with five nods, but Martin Scorsese's highly anticipated mob epic for Netflix was completely shut out at the award ceremony.

Netflix landed the most film nominations of any company with 17 mentions, but it won only one award which is the best-supporting actress for 'Marriage Story's' Laura Dern. Netflix's nominated films 'Dolemite Is My Name' and 'The Two Popes' was tied with 'Joker' with four mentions each and failed to grab any awards.

'Dolemite Is My Name' star Eddie Murphy was expected by a number of pundits to win for best actor in a motion picture, musical or comedy.

'Bombshell', 'Harriet',' Frozen 2', 'Jojo Rabbit', 'Knives Out', 'The Lion King', 'Little Women' and 'Pain and Glory' are among the other films that received multiple nominations but didn't win a single award.

On the TV side, Netflix's 'Unbelievable' tied in the race to most small-screen nominations with 'Chernobyl' and 'The Crown' with four nominations, and 'The Crown' won only one award, for star Olivia Colman.

The three-time nominees 'Barry', 'Big Little Lies', 'The Kominsky Method' and 'The Morning Show' also didn't grab any award. 'Catch-22', 'Killing Eve', 'The Marvelous Mrs. Maisel' and 'The Politician' who were two-time nominees that were also iced out.

'Hustlers' star Jennifer Lopez failed to take home the best-supporting actress award as she was predicted to win the award by a number of pundits. Billy porter also failed to make history with the best drama actor win for his role on 'Pose,' if he would've won the award, he reportedly would have been the first openly gay African-American to win that award.

'Chernobyl' won two of its four nominations. Despite that, star Jared Harris didn't win the best actor in a limited series Globe which was predicted by many prognosticators. The award was bagged by Russell Crowe for his portrayal of Roger Ailes in 'The Loudest Voice.' But the star was absent from the ceremony.

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