Mumbai:The Rajasthan Royals' fate in the IPL is likely to be decided today as the hearing on the case is going on in the Bombay High Court.
The Indian Cricket Board (BCCI) had challenged the six-week stay on Royals' termination ordered by Justice BN Srikrishna. The stay enabled the Royals to take part in the players' auction to be held in January.
Justice Srikrishna had said that the BCCI was aware of the Royals' shareholding pattern since the inception of the IPL.
"At this prima facie stage at least, (it appears) that the Respondent (BCCI) was very much aware of who the original bidders were, who the ultimate controllers were, and the fact that the Applicant (Jaipur IPL) was a part of the group companies or entity controlled by the original bidders. The protestations to the contrary appear to be contrived and too facile to cut ice," Justice Srikrishna had said in his order.
The BCCI lawyer, however, told the court on Thursday that even today, the Royals have not disclosed their actual shareholdings. He also alleged that the franchisee had fabricated documents.
He also said on behalf of the Board that Emerging media was meant to have 100% control, but they don't have it. The Board needed to know who controls the company and who is putting in the money.
"What if an enemy of the state puts in the money? How will we know if the company doesn't inform us about the transfer of its shareholding," he said.
Earlier, on Wednesday, the Bombay High Court had also put an interim relief on the expulsion of Kings XI Punjab, who were also terminated by the BCCI on the similar grounds.
After listening to both parties over the last two days, Judge SJ Vajifdar had said that "prima facie" Punjab had a strong case against the expulsion and the "interim injunction" was only just.
But his verdict carried many conditions, the most important being that the franchise cannot change its shareholding pattern and the control should rest in the hands of the four main owners: Ness Wadia, Preity Zinta, Mohit Burman and Karan Paul.
The court said that these four needed to hold not less than 51% of the shares in KPH Dream Cricket Pvt. Ltd - the rights-holding company of the franchise - until the final judgment.