To stop Mohit Burman from selling stake in Punjab Kings Preity Zinta moves to HC
The co-owner of Punjab Kings PreityZintahas moved to the Punjab and Haryana High Court to stop fellow co-owner MohitBurman from selling a part of his stake to a third party. The case will be heard on August 20.
As per a report, she has filed a petition under Section 9 of the Arbitration and Conciliation Act-1996 “seeking interim relief in the disputes and differences between her and Mohit.
Burman owns a 48 percent stake while Zinta and Ness Wadia hold 23 percent stake each. The remaining shares are with Karan Paul.
Mohit is looking to sell 11.5 percent of his stake, which Zinta is not in favour of. Burman has denied the reports. He was quoted saying, “I don’t want to sell my shares.”
There is no clarity on why Zinta opted for a legal move. According to reports, the owners had agreed that any stake for sale should be offered to existing members and if anyone says no, the shares could be offered to a third party.