MUMBAI : The IPL team Punjab Kings is co-owned by industrialists Mohit Burman and Ness Wadia, as well as Bollywood diva Preity Zinta. According to recent sources, Zinta has asked the Chandigarh High Court to stop Burman from selling a portion of his stake to a distinct business.
According to the article, Zinta has twenty-three percent of PBKS, Burman owns forty-eight percent, Wadia has twenty-three percent, and Karan Paul owns the remaining shares. A hearing on this matter is scheduled for August 20, 2024.
(Also read: Sunny Deol and son Karan Deol set to collaborate on Lahore 1947: Another father-son tale after Gadar 2
The Tribune reported that Zinta has approached the Chandigarh court for an injunction to stop Mohit Burman from selling, disposing of, or transferring any rights related to his 11.5 percent stake in the company.
She stated that she owns 23 percent of the firm's shares and has requested the court to block the company from registering any transfer of Burman's 11.5 percent stake. The court has issued notices to the respondents for their replies.
Zinta noted that Burman holds approximately 48 percent of the company's shares and is also a board member. She filed the petition under Section 9 of the Arbitration and Conciliation Act, 1996, requesting interim measures and directions due to ongoing disputes with Burman.
KPH Dream Cricket Private Limited, incorporated under the Companies Act, 1956, holds an Indian Premier League (IPL) franchise.
Zinta explained that Burman's bad faith and disregard for her pre-emption rights under Article 19 of the company's agreement were the reasons behind her feeling compelled to launch the petition for temporary protection before arbitration proceedings.
She claimed that Burman had threatened to sell his 11.5 percent stake to a third party, which is why the petition's urgent plea for temporary protection was necessary. The Punjab Kings have not formally addressed the matter or issued a remark about it.
The actor from Veer Zaara will next be seen in Lahore 1947, which stars Sunny Deol in the lead part. The film is slated for release next year, is directed by Rajkumar Santoshi and produced by Aamir Khan Productions. The actress has finished filming her scenes, and the film is currently in its final phases of production.
(Also read: Lahore 1947: Aamir Khan confirms Sunny Deol’s son Karan Deol’s starring in the film
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Credit- Pinkvilla
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