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What happened in PBKS that Preity Zinta went to court against the co-owner of her own team

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Bollywood actress Preity Zinta, co-owner of Punjab Kings (PBKS) in IPL, is now rarely seen in films. But still the participation in the IPL team is regularly in the news. Preity Zinta is once again in news because of Punjab Kings. Because she has reached the Chandigarh High Court against a decision of a co-owner of her own team. Apparently no IPL team has a single owner. It has more than one owner and a board like a company. All owners also have to follow the rules of this board. Bollywood actress Preity Zinta holds 23 percent stake in IPL team Punjab Kings. Apart from this, Ness Wadia also holds 23 percent stake. Mohit Burman holds a major stake of 48% in the franchise. Now according to sources, Mohit Barman has sold 11.5% of his shares and Preity Zinta has objected to this. Because before selling the shareholding to a third party, the owner has to give an opportunity to the co-owners to buy it. A share can be sold to another party only if all the co-owners show reluctance to buy. The report has come out that Preity Zinta has appealed in Chandigarh High Court in this matter. Preity’s side is saying that, ‘Burman has approximately 48 percent of the shareholdings. He is also on the board of directors.’ She is said to have filed an application in the Chandigarh High Court seeking interim measures under Section 9 of the Arbitration and Conciliation Act – 1996.

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