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.
Agencies
April 25,2020

London, Apr 25: Former Australian cricketer Graeme Watson who was fighting cancer, has died at the age of 75.

Primarily a middle-order batsman and a medium-pace bowler, he featured in five Tests from 1967 to 1972 and two ODIs in 1972, ESPNcricinfo reported.

The all-rounder earned the national call during the 1966-67 tour of Rhodesia and South Africa. Watson slammed a half-century in the first innings of the second Test of the series.

However, the medium-pace bowler was ruled of the next test after suffering an ankle injury. He returned for the fourth Test in Johannesburg where scalped his career-best 2 for 67 but failed to leave a mark with the bat as Kangaroos lost the series.

In 1971-72 he moved to Western Australia and played a major role in their Sheffield-Shield win in 1971-72, 1972-73, and 1974-75 seasons.

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
January 11,2020

Dubai, Jan 11: India opener KL Rahul has retained the sixth position while skipper Virat Kohli and left-hander Shikhar Dhawan have advanced one place each in the latest ICC Men's T20I player rankings after the conclusion of the series against Sri Lanka.

India won the T20I series 2-0 with one match getting washed out. Rahul, the highest-ranked Indian batsman, has gained 26 points and is now at the sixth spot with 760 rating points.

Rahul is just six points behind Australia's Glenn Maxwell after scores of 45 and 54 in his two innings against Sri Lanka.

Kohli, top-ranked in Tests and ODIs, is in the ninth position while Dhawan is on 15th. Manish Pandey has advanced four places and is ranked at the 70th.

India's fast bowlers have made notable gains in the first T20I update of the year and would be encouraged as they prepare for the ICC Men's T20 World Cup 2020 in Australia.

Player of the series Navdeep Saini has rocketed from 146 places to 98th while Shardul Thakur has re-entered in 92nd position after both finished with five wickets in the series. Jaspreet Bumrah has gained eight places to reach the 39th position.

For Sri Lanka, Dhananjaya de Silva has gained 72 places to reach 115th among batsmen after aggregating 74 runs while spinner Lakshan Sandakan has moved up 10 places to reach 29th position after grabbing three wickets in the series.

In the ICC Men's team rankings, India have gained two points but remain at fifth position with 260 points, while Sri Lanka have lost two points and now have 236 points and are at the eighth spot.

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
January 6,2020

Sydney, Jan 6: Nathan Lyon captured five for 50 and 10 match wickets as Australia crushed New Zealand by 279 runs on Monday, capping a golden domestic summer as they swept the three-Test series.

The off-spinner led the powerful Australian bowling attack to dismiss the Kiwis for 136 and seal another heavy win over the Black Caps after similar victories in Perth and Melbourne.

Australia have been unbeatable this season, winning all five Tests at home -- two against Pakistan and three against New Zealand -- after retaining the Ashes by drawing the series 2-2 in England.

"It's been a great summer for the Australian Test side," Lyon said.

"It's pretty special to be part of it, we have been impressive, pretty clinical, the batters have done well and given us bowlers plenty of time."

Australia declared their second innings at 217 for two with David Warner scoring an unbeaten century, leaving the Black Caps with a revised 416-run target in the fourth innings on a wearing Sydney Cricket Ground pitch.

But the Kiwis buckled under the pressure of Australia's superior bowling attack with Mitchell Starc taking three for 25 to support the wiles of spinner Lyon.

"They were clinical in all areas and after the first match they put us under pressure session after session," said skipper Kane Williamson, who missed the Test with a virus.

New Zealand were reeling early at 27-4 and never recovered after Starc and Lyon took two wickets each in the middle session to put the skids under the tourists.

Starc removed both openers, Tom Latham and Tom Blundell, in the first five overs. Blundell fell to a stunning catch by a diving Lyon at point for two and stand-in skipper Latham lost a review for leg before wicket.

Jeet Raval was out in a review to the faintest of edges on 'Snicko' in Lyon's first over for 12.

First-innings top-scorer Glenn Phillips went for a duck after technology detected a faint outside edge to wicketkeeper Paine off Lyon.

Taylor's Kiwi record

Ross Taylor became the leading all-time Kiwi batsman, going past Stephen Fleming (7,172) before he was bowled by Pat Cummins for 22 to take his Test aggregate to 7,174.

Big-hitting Colin de Grandhomme smacked Lyon for six to bring up his fifty but went next ball hoicking to Joe Burns at deep mid-wicket for 52.

Todd Astle was out to a superb diving catch by James Pattinson in the outfield for 17.

Starc yorked William Somerville's middle stump for seven and BJ Watling was the last to fall, caught at backward square leg by Pat Cummins for 19.

Earlier, Warner completed his 24th Test century and remained unbeaten when skipper Paine declared upon the dismissal of Marnus Labuschagne.

"You know you're capable of doing so," Warner said, when asked about how he had bounced back from his disastrous Ashes campaign in England last year.

"I was in the nets hitting the ball well and had the skipper backing me. To be able to play with freedom helped me. It's all paying off."

Labuschagne, who was dropped on four in a regulation caught-and-bowled chance by leg-spinner Astle, was caught at long on off Matt Henry for 59 -- his seventh score over 50 in eight innings this domestic summer.

Labuschagne finished the home five-Test season with a stunning aggregate of 896 runs, made up of his 215 in the first innings, three other centuries and three half-centuries in eight innings.

There was drama late in the Australian innings when Warner was given an official warning by umpire Aleem Dar for running down the middle of the pitch in scampering a single.

It resulted in five penalty runs being added to New Zealand's first innings total meaning their target was revised down from 421 to 416.

The Test was played against the backdrop of one of Australia's most devastating bushfire seasons with at least 24 people losing their lives in blazes raging across the country, including on the outskirts of Sydney.

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.