Are the Punjab Kings facing issues? A recent article from Cricbuzz suggests that there might be some trouble among the owners of the IPL team. The team is co-owned by Bollywood actress Preity Zinta, businessman Mohit Burman, and Ness Wadia. The article states that Preity Zinta has asked the Chandigarh High Court to stop Mohit Burman from selling part of his shares to someone else. Preity owns 23% of the team, Mohit Burman owns 48%, and Ness Wadia also owns 23%. The rest of the shares are owned by Karan Paul.
The report also mentioned that Preity Zinta’s legal action in court is about rumors that Mohit Burman plans to sell some of his shares. Burman has said these rumors are not true. “I’m not planning to sell my shares,” Burman said to Cricbuzz. The Punjab Kings, the team involved, have not made any public comments or statements about this matter.
A report in Tribune mentioned: “Preity Zinta stated that Burman owns around 48 percent of the shares and is also a member of the board of directors. She has filed a petition under Section 9 of the Arbitration and Conciliation Act-1996, asking for temporary measures and guidance due to disagreements between her and Mohit Burman.”
The Cricbuzz report added that “it is known” that under their agreement, a specific co-owner cannot sell their part to someone else without first giving the other original co-owners a chance to buy it. The shares can only be sold if the other co-owners say they don’t want to buy them.
Punjab Kings have not won the IPL yet.
