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 22,2020

Sydney, Feb 22: India's demolition of a formidable Australia in the Women's T20 World Cup opener will give them a huge boost going forward, said star batswoman Mithali Raj, who also lauded leggie Poonam Yadav for her magical performance.

Poonam took four for 19 to help India complete a 17-run victory against defending champions Australia on Friday.

"Everyone has been talking about how much batting depth Australia have, yet they couldn't chase 132," Raj, a former India Test and ODI captain, said in an ICC release.

"India will take so much confidence from that victory, but this World Cup is still very open. The match between Australia and India proved how competitive the tournament will be. It proves it does not matter where you stand in the ICC rankings.

"We will be seeing more of the same drama yet. This victory proves every team has a chance," said Raj, who has retired from T20 cricket.

The 37-year-old veteran batswoman said "the opening match definitely lived up to the hype of the tournament".

"It was a whirlwind. There were so many ups and downs. It was a great start to the tournament not only because India beat the defending champions on home soil, but also because of how the game progressed altogether.

"At no point could you say it was going in one side's favour. First we saw our early wickets fall, then we recovered and Australia had to chase 132 before their middle-order collapsed. India and Australia both took the game their own way at different points which made it fascinating for spectators to watch."

Raj said Poonam's spell was the turning point.

"She's been one of the main spinners for India for quite some time now, and her style worked again. Getting their (Australia's) middle-order out really titled the match towards India, she was brilliant.

"Although we recovered our innings through Deepti Sharma and her partnership with Jemimah Rodrigues, it was Poonam's flurry of wickets against Australia's megastars, which completely changed the game," Raj said.

Raj also praised 16-year-old Shafali Verma for scoring 29 off 15 on her World Cup debut.

"Shafali Verma impressed me too on her debut. She gave India's middle order the cushioning they needed to regain momentum. Verma has stuck with stroke play that she demonstrated in the tri-series," she said.

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News Network
May 7,2020

Melbourne, May 7: Australia opener Joe Burns is eyeing the Tests against India should they take place later this year, to stabilise his stop-start international career, saying "you want to play in and do well in" in this kind of series.

India is scheduled to play four Tests in Australia in December-January, a series which is currently in doubt due to the COVID-19 pandemic, which has claimed over 2.5 lakh lives across the world.

"They are obviously world class team. I think the two teams going at each other will be very exciting to watch and players playing against each other as well," Burns told reporters in a video conference on Thursday.

"You look at the world ranking, they were number one and now we have got to number one, so I know that series will be anticipated by everyone and as a player this is a sort of series you want to play in and do well in."

With the coronavirus also threatening the T20 World Cup, Cricket Australia is under financial stress and has gone on a cost-cutting drive, which included standing down 80 per cent of its staff at 20 per cent salary.

There are also speculations that the Sheffield Shield for 2020-21 would be curtailed to cut costs.

Burns, however, hoped it won't be tinkered with.

"I love the fact we have a really strong first-class system. The 10 games, where you play everyone twice," Burns, who was struck down by a fatigue illness after an indifferent season, said.

"It leads to world-class players coming into Test teams. You don't want to see that get changed.

"Obviously it is unique circumstances at the moment and There's a lot of things to work through ... the players' association is consulted on those things."

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Agencies
March 25,2020

Lausanne, Mar 25: The World Archery has hailed as a 'brave decision' the International Olympic Committee (IOC) move to postpone the 2020 Tokyo Olympics until next year due to coronavirus pandemic.

"We commend the conscientious and brave decision taken by Tokyo 2020 and the International Olympic Committee to delay this summer's Games in the face of an unprecedented challenge to humanity," Ugur Erdener, the World Archery president, said in an official statement.

The decision to postpone the Summer Olympics was confirmed by the IOC, on Tuesday, after the organising body for the event and Japan's Prime Minister Shinzo Abe agreed to reschedule the quadrennial event in view of the COVID-19 pandemic.

"This is not an easy situation, especially for the athletes who had been training hard for Tokyo 2020. I hope that everyone understands why this decision has been made and I urge archers around the world to retain hope and reset for this new timetable," he added.

The IOC has, however, said that the original name of Tokyo 2020 will remain intact irrespective of the fact that it will take place next year.

The Tokyo Olympic Games were slated to be held from July 24 to August 9.

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