IPL terminates contract of Rajasthan Royals, Kings XI Punjab
By IANSSunday, October 10, 2010
MUMBAI - The Indian Premier League (IPL) governing council (GC) Sunday terminated the contract of two teams — Kings XI Punjab and Rajasthan Royals — for breeches committed by them.
“The GC of the IPL met today (Sunday) to discuss and decide on the breaches committed by three of the franchisees, K.P.H. Dream Cricket Pvt. Ltd., the owners and promoter of the Kings XI Punjab cricket team, Jaipur IPL Cricket Pvt. Ltd and the unincorporated joint venture holding the Kochi franchise,” the IPL GC said in a statement.
“It was also decided unanimously decided that the franchise agreement with K.P.H. Dream Cricket Pvt. Ltd. and Jaipur IPL Cricket Pvt. Ltd. be terminated forthwith based on the legal opinions obtained by BCCI in the matter.”
“It was also decided to issue a notice to the unincorporated joint venture holding the Kochi franchise calling upon them to resolve all their disputes and form a joint venture company which will hold the IPL franchise rights.
“Mr. P.R. Raman, advocate for BCCI, has been given instructions to issue all the three notices,” the statement added.
