By GAUTAM JhaThe word deadline often becomes dead in India. BCCI had given 10 days time on Oct 10 to Kochi IPL consortium to resolve the internal differences. The time is over but Kochi IPL consortium still needs some time to sort out the problem. On the very last day of deadline Oct 20, a letter was forwarded to BCCI demanding some more time as they are pretty close to end up the differences. The franchise is optimistic of getting the time which has got former Indian captain Sunil Gavaskar as an Advisory Body .
Franchise CEO, Satyajit Gaekwad told the media that the consortium partners are about to bracket all the differences and, for the purpose, we would like to have some more time. He, further, stressed that we have not defaulted on any payment. We just like to have some more time as we are on the verge of resolving all the differences.
In the meantime, after the getting the letter of Kochi IPL consortium, BCCI president Shashank Manohar has summoned IPL Governing Council to meet at Nagpur to arrive at decision on the fate of Kochi Franchise issue.
"Who will take care of franchise affairs" is the cornerstone of dispute since the day joint venture was formed. The franchise was bought from Cricket Board for USD 333 million.
The investors include corporate firms Anchor Earth, Parinee Developers, Rosy Blue and Film Wave - who hold 75 per cent of the equity. The remaining 25 per cent has been given to the family of Gaekwads - Shailendra, his brother Ravi and their parents plus a few others, all part of the group of promoters - Rendezvous Sports World - as free equity for services rendered in successfully bidding for the franchise.
The legal team of the Cricket Board had been entrusted with the task of studying the letter which has been forwarded to Manohar.
Earlier, media reports claimed that Sunil Gavaskar had helped the consortium bag the franchise at the IPL auction.
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