Preity Zinta takes legal action against the co-owners of the Punjab Kings. Is trouble brewing within the IPL franchise?

Preity Zinta takes legal action against co-owners of Punjab Kings

Photo: PTI

Preity Zinta has reportedly taken legal action against Punjab Kings co-owner Mohit Burman to prevent him from selling his shares to other investors. The actress, who also owns a 23 percent stake in Punjab Kings, has appealed in the Chandigarh High Court.

According to a report by Cricbuzz, Preity Zinta wants to stop co-owner Mohit Burman from selling his shares to any other party. Mohit is the largest shareholder among the four owners with a 48 percent stake and reportedly wants to sell 11.5 percent of his stake.

A report in Tribune said, “Preity Zinta said Burman holds about 48 percent of the shares and is also on the board of directors. She has filed an application under Section 9 of the Arbitration and Conciliation Act, 1996, seeking interim measures and directions in view of the dispute and disagreement between her and the respondent Mohit Burman.”

According to Cricbuzz, if one of the co-owners intends to sell his share in the IPL Team, the existing organizers should be informed first and only after receiving the necessary approval can the process of selling shares be continued.

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The case is reportedly set to go to trial on August 20. Of the other two co-owners, Ness Wadia owns 23 percent, while Karan Paul owns the rest. It remains to be seen what will ultimately come of the ownership dispute.

Punjab Kings are one of the most inconsistent teams in the Indian Premier League. They are one of the three teams that have never won an IPL trophy since their inception. Moreover, Punjab Kings are in dire need of a coach following the departure of Trevor Bayliss.