New Delhi: A Chandigarh court, acting on an appeal filed by the Registrar of Companies, on Wednesday issued summons to the promoters of Kings XI Punjab.
In the notice, co-promoters Preity Zinta and Ness Wadia have been asked to explain why the IPL team from Punjab have not submitted their accounts and tax details for the past one year. There are questions now arising about the ownership and the stakeholders in the IPL team from Punjab.
Bollywood actress Preity Zinta and Bombay Dyeing's Ness Wadia hold 23 per cent stake each, while the Chairman of the Apeejay Surendra Group Karan Paul holds four per cent.
Windy Investments owns 11 per cent stake. The company is owned by Mohit Burman, who is the director of Dabur India.
Colway Investment, a company owned by Gaurav Burman, owns 23 per cent. Gaurav is Mohit's UK-based brother and Modi's son-in-law.
Gaurav also has a stake in Global Cricket Ventures through a Mauritius subsidiary, so he also has web rights for the IPL.
Root Investments with four per cent is another stakeholder in the Punjab team. Root is owned by Shagun Khanna and she is the wife of Arvind Khanna, the Congress leader from Sangrur. Arvind's brother, Aditya Khanna was investigated in the Volcker Scam.
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