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Preity Zinta moves court against Punjab Kings co-owner to block sale of stake to third party
Preity Zinta has sought a court order to prevent co-owner Mohit Burman from selling part of her shares in Punjab Kings. Read to know full story!
Bollywood actress Preity Zinta, along with industrialists Mohit Burman and Ness Wadia, co-owns the IPL franchise Punjab Kings. Recent reports indicate that Zinta has petitioned the Chandigarh High Court to stop Burman from selling a portion of his shares to another party. The report also reveals that Zinta owns 23 percent of PBKS, Burman holds 48 percent, and Wadia has 23 percent, with the remaining shares owned by Karan Paul. The case is listed for a hearing on August 20, 2024.
According to a report by The Tribune, Zinta has approached the Chandigarh court seeking an injunction to prevent Mohit Burman from selling, disposing of, or transferring any rights to his 11.5 percent shareholding in the company. She stated that she owns 23 percent of the firm's shares and has requested the court to block the company from registering any transfer of Burman's 11.5 percent stake. The court has issued notices to the respondents for their replies.
Zinta noted that Burman holds approximately 48 percent of the company's shares and is also a board member. She filed the petition under Section 9 of the Arbitration and Conciliation Act, 1996, requesting interim measures and directions due to ongoing disputes with Burman.
KPH Dream Cricket Private Limited, incorporated under the Companies Act, 1956, holds an Indian Premier League (IPL) franchise.
Zinta explained that she felt compelled to file the petition for interim protection before arbitration proceedings due to Burman's bad faith and disregard for her pre-emption rights under Article 19 of the company's agreement. She alleged that Burman has threatened to sell his 11.5 percent shareholding to a third party, prompting the need for urgent interim protection as requested in the petition. Officially, the Punjab Kings have not spoken or released a statement on the issue anything on the issue.
On the work front, the Veer Zaara actor will next appear in Lahore 1947, featuring Sunny Deol in the lead role. Produced by Aamir Khan Productions and directed by Rajkumar Santoshi, the film is scheduled for release next year. The movie is currently in its final stages of production, and the actress has already completed filming her scenes.
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