The iplT20 match Will be contect in indian Cricket Team.
Csk And RR Will Be Droped.
After seven months of absence from the BCCI, former President N Srinivasan trooped down to Kolkata last month for the Board’s working committee meeting. He was so adamant to attend, despite opposition from BCCI members, that he even went into the meeting room early and sat down. Unable to reason with him, the BCCI eventually adjourned the meeting, because allowing him to participate would have invited the Supreme Court’s ire.
Two weeks later, the BCCI is ready to fire the first salvo at the ‘Chennai Super King’. NDTV has learnt that the BCCI has drafted a petition, after seeking legal opinion, that proves that N Srinivasan still has conflict of interest, something that disallows him from attending any further board meetings according to Supreme Court orders. BCCI sources have told NDTV that they have proof of Mr Srinivasan still having ‘pervasive’ control of the Chennai Super Kings.
In October 2014, India Cements Ltd in its board meeting decided to demerge the franchise CSK from ICL (India Cements Ltd) and form a new company called Chennai Super Kings Cricketers Limited, a wholly owned subsidiary of ICL. �
This was created with 50,000 equity shares of Rs 10 each. The consideration for this demerger of the Chennai Super Kings was valued at Rs 7.83 crore, payable by way of equity to India Cements Ltd. So, Chennai Super Kings Cricketers Ltd became the new owner, being a wholly owned subsidiary. But the control remained with India Cements Ltd.
Then in February 2015, ICL created a trust known as India Cements Shareholders Trust with a corpus, but that did not become a legal entity because it was not registered. The objective of the Trust was to hold 50,000 equity shares of Chennai Super Kings Cricketers Ltd so as to distribute it among two sections – the non promoters shareholders of India Cements, and the promoters’ share (that is Srinivasan and his family’s share). However, Srinivasan decided to give his share to the ex-cricketers of his company, India Cements. However, the ratio of distribution or the exact shareholding pattern was not specified.
Mr Srinivasan may be telling the truth but there is a slip between the cup and the lip.
Now the Supreme Court will have to take the final call on whether or not Srinivasan can attend BCCI meetings in the future. But rest assured, the former BCCI supremo will not go down without a fight.