Former BCCI PResident N. Srinvasan has decided to give up his IPL franchise Chennai Super Kings to contest in the BCCI elections according to some reports. The Supreme Court has strictly ruled that for Srinivasan to contest the BCCI polls, he must first give up his stakes in Chennai Super Kings. Srinivasan’s company India Cements is the owner of CSK.
As per reports, the embattled former BCCI boss has started de-merging CSK from India Cements and made it a separate subsidiary hoping that the court will give him a reprieve. However, a technicality in the Supreme Court order might still stump him.
The Court order stated that a person cannot contest elections, “till such time the person concerned holds such commerical interest (in the board) or till the three member committee (probing charges of betting on IPL matches against IPL teams CSK and RR and their officials/owners Meiyappan and Kundra) considers and awards suitable punishment to those liable for the same, whichever is later.”
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