Preity Zinta has filed a petition under Section 9 of the Arbitration and Conciliation Act-1996 to prevent Burman from transferring his stake in the company.
In a notable development, Bollywood actress and co-owner of the IPL franchise Punjab Kings, Preity Zinta, has approached the Chandigarh High Court to block businessman and co-owner Mohit Burman from selling part of his shares to a third party. Zinta has petitioned the court to prevent Burman from selling his 11.5% stake, alleging a breach of her pre-emption rights under the company’s agreement.
The court has issued notices to the respondents, including Burman, and scheduled a hearing for August 20, 2024. According to the Tribune, Zinta stated that Burman, who holds about 48% of the shares and is on the board of directors, is involved in a dispute with her. The petition, filed under Section 9 of the Arbitration and Conciliation Act-1996, seeks interim measures due to ongoing disputes.
The outcome of this case is eagerly anticipated, as it could impact the ownership and management of the Punjab Kings. Besides Zinta and Burman, the team’s co-owners include Zinta’s former fiancé, Ness Wadia.
