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Preity Zinta<\/strong>, co-owner of the Indian Premier League (IPL)<\/strong><\/a> franchise Punjab Kings<\/strong>, has taken legal action against fellow co-owner Mohit Burman<\/strong> amid reports of a rift between the two. Zinta has filed an appeal in the Chandigarh High Court seeking to restrain Burman from selling his shares in the team to a third party without first offering them to her and other co-owners.<\/p>\n The Punjab Kings franchise is co-owned by Zinta, Burman and Ness Wadia<\/strong>, with Zinta and Wadia each holding 23% of the shares, while Burman holds a significant 48%. The legal action comes after Zinta expressed concerns over Burman\u2019s potential plans to sell his stake without consulting the other co-owners, which she argues violates their agreement.<\/p>\n According to reports, Zinta\u2019s petition was filed under Section 9 of the Arbitration and Conciliation Act-1996, which allows for interim measures in disputes. She contends that the arrangement among the co-owners stipulates that shares cannot be sold to a third party unless the other owners decline to purchase them first.<\/p>\n In response to the allegations, Burman has denied any intentions to sell his shares. \u201cI don\u2019t have any plans to sell my shares,\u201d <\/em>he told Cricbuzz. However, Zinta alleged in her legal filing that Burman intends to sell an 11.5% of his stake to a US-based firm named Tomales Bay Capital L.P.<\/p>\n Well, this legal battle comes at a critical time for the Punjab Kings, who are gearing up for the upcoming mega auction of the IPL. The internal conflict among the co-owners could potentially impact the team\u2019s management and overall performance in the forthcoming tournament.<\/p>\nBackground of the dispute between Punjab Kings\u2019 co-owners<\/strong><\/h2>\n
Also READ: Bollywood actress Preity Zinta reveals her all-time favourite cricketers from Punjab Kings<\/a><\/h3>\n
Response to Preity Zinta\u2019s allegations<\/strong><\/h2>\n
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