Preity Zinta is taking legal action against her co-owner of Punjab Kings for this shocking reason

Preity Zintathe owner of Indian Premier League (IPL) franchise Punjab Kingshas taken legal action against one of its owners Mohit Burman amid reports of a rift between the two. Zinta has filed an application in the Chandigarh High Court seeking to restrain Burman from selling his shares in the group to someone else without giving them to himself and other shareholders.

Background to the dispute between the owners of the Punjab Kings

The Punjab Kings franchise is owned by Zinta, Burman and Ness WadiaZinta and Wadia each own 23% of the shares, while Burman holds a significant 48%. The legal action comes after Zinta expressed concern over Burman’s plans to sell his stake without consulting other shareholders, which he says violates their agreement.

According to reports, Zinta’s request was filed under Section 9 of the Arbitration and Conciliation Act-1996, which allows for interim measures to be taken in disputes. He argues that the arrangement between the shareholders stipulates that the shares cannot be sold to a third party unless the other shareholders refuse to buy them first.

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In response to Preity Zinta’s allegations

Responding to these allegations, Burman denied that he has any intention of selling his shares. “I have no plans to sell my shares,” he told Cricbuzz. However, Zinta alleged in her official filing that Burman intends to sell 11.5% of her shares to a US company called Tomales Bay Capital LP.

However, this legal battle comes at a critical time for the Punjab Kings, who are gearing up for the upcoming IPL auction. Internal conflicts between co-owners may affect the team’s management and overall performance in the upcoming tournament.

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