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BCCI Owes Us Rs 40 Crore, Say Rajasthan Royals

PTI 10 Dec 2010, 10:08:04 IST
Mumbai, Dec 9 : A day after Bombay high court ruled in favour of Kings XI, the BCCI on Thursday began arguments in its appeal against the stay granted to Rajasthan Royals.

Board's counsel C A Sundaram said that the Jaipur team was not sharing its shareholding pattern with BCCI. He said BCCI had a right to know who it was "dealing with" and to drive home his point he even said, "what if Mr (Dawood) Ibrahim holds 5% stake in the company?"

He mentioned the "the most wanted person" as an extreme example of what could happen if BCCI does not know who holds shares in the holding and related companies of the franchise, reports Times of India.

He even said, "We are all aware of match-fixing and money laundering activities... " He was expressing his concern over why BCCI must employ KYC norms to know its franhchisee owners well.

Royals had been won by Emerging Media, a company registered in the United Kingdom in January 2008 for $67 million, $9 million less than the cost of the Punjab team.

Justice Shiavax Vazifdar was hearing the appeal filed by BCCI against an interim order passed by the arbitrator, retired supreme court judge B N Srikrishna, who granted Royals their interim relief.

BCCI had flown down its standing counsel from Chennai P R Raman too for these "crucial" hearings. The arguments on the point will continue on Friday.