Rift between the owners of Punjab Kings, Preity Zinta reached High Court

New Delhi. There is a rift among the owners of IPL franchise Punjab Kings. The dispute between the co-owners over the shares has become public. Ahead of the IPL 2024 mega auction, PBKS co-owner and Bollywood actress Preity Zinta has approached the Punjab and Haryana High Court in this regard. Preity has filed a petition in the court against co-owner and promoter Mohit Burman. In the petition, Preity has requested to stop Mohit from selling a part of his shares in the IPL franchise to any other party. The case is to be heard on August 20th.

According to a sources, Preity has sought interim measures and directions from the court under Section 9 of the Arbitration and Conciliation Act-1996. Burman has the largest stake in KPH Dream Cricket Private Limited. He is the largest shareholder of the franchise with a 48 percent stake while Zinta and Ness Wadia have 23-23 percent shares. The remaining shares are held by the fourth owner Karan Paul. Burman is the chairman of Ayurvedic and FMCG company Dabur. He is also the director and co-owner of Caribbean Premier League (CPL) franchise St Lucia Kings.

Burman is reportedly looking to sell his 11.5 percent shares to a third party, which Preity is opposing. However, to whom does he want to sell a part of his shares? It is not clear at the moment. By the way, Burman has denied the news of selling shares. According to Cricbuzz, Burman said, “I have no plans to sell my shares.” Despite Burman’s denial of plans to sell shares, uncertainty remains about the matter. Preity and Wadia have not responded. It is worth noting that the performance of the Punjab franchise has been disappointing so far. The Punjab team has reached the final only once in the 17-year history of IPL, where it had to face defeat.