Banned Indian Premier League franchise Kings XI Punjab has filed an arbitration petition in the Bombay High Court challenging the BCCI's decision to terminate its IPL contract. The court was moved by Preity Zinta and her industrialist boyfriend Ness Wadia who co-own the team.
The move by the King XI comes soon after the Rajasthan Royals challenged a similar decision by the BCCI in the High Court.
BCCI had recently terminated the franchisees of Kings XI Punjab and Rajasthan Royals on grounds that they had changed the shareholding pattern without informing the Board or IPL Governing Council.
Kings XI Punjab maintains that the termination of their franchise contract is an intentional and calculated move. They have stated that the BCCI wants to make big profits by seeking new bids as the value of franchisees had gone up considerably.
Kings XI Punjab has asked for a stay on the BCCI's decision to terminate the contract. It has also begged for termination of the contract to be revoked by BCCI saying it would damage the interests of young players of Punjab, Haryana, Himachal Pradesh and Jammu and Kashmir.