MUMBAI: The Pakistan Cricket Board (PCB) has written to the BCCI regarding the resumption of cricket series between the two countries.

PCB chairman Zaka Ashraf has been quoted in reports saying that he had written to BCCI president N Srinivasan regarding resumption of cricket ties.

Pakistan is supposed to visit India in February next year. The two teams have not played a series since the 26/11 terror attacks in 2008.

Ashraf said that he had also met Bangladesh Cricket Board officials to break the ice.

MUMBAI: In a blow to the owners of the Kochi Indian Premier League (IPL) franchise, the Bombay High Court today quashed their plea against the Board of Control for Cricket in India (BCCI).

As a follow-up action, Kochi Tuskers Kerala has appealed against the Bombay High Court?s decision.

The franchise?s case was dismissed by a single bench of Justice SF Vajifdar today. A new hearing before a division bench of the court will take place tomorrow.

Cricket?s richest body had terminated Kochi Tuskers Kerala?s contract on Monday for breaching its terms and conditions, prompting the franchise to move the court.

The Kochi franchise defaulted on a Rs 1.56 billion annual payment it was to make as bank guarantee.

Kochi Tuskers Kerala chairman Mukesh Patel had earlier maintained that the franchise does not owe the BCCI any money.

It remains to be seen as to what happens to the players in that franchise like Mahela Jayawardene. However, BCCI president   said the players? interests would be safeguarded.

The BCCI has not clarified yet whether it will hold an auction for a 10th franchise or go with nine teams.

MUMBAI: The former IPL chairman Lalit Modi has said that the BCCI could lose Rs 20 billion over the termination of the Kochi IPL franchise.

On twitter, Modi wrote: "Kochi now being terminated - a further loss of 1500 crore to BCCI. Compounded by reduction in Media Rights. My estimate 2000 crore. Who is responsible for this mess now? Current president and outgoing president for sure. Who will they blame now for this. Where is the accountability and who will take responsibility,"

Expressing a sense of vindication over the mess, he wrote on his blog that the BCCI?s termination of the Kochi Tusker?s IPL franchise for non-payment of a bank guarantee is a financial mess he had predicted over a year ago. This was a mess he was prevented from trying to avoid during his time as IPL commissioner, he added.

"The news, which came out of the BCCI AGM in Mumbai, is another example of how the vendetta against me is being laid bare.?

Modi said that he had proposed a financial condition that would filter out all but the most serious and robust of bidders. This condition stipulated that bidders should have a capitalisation of no less then $1 billion and was created to ensure they had the ability to support an IPL franchise.

A commissioned report compiled by Ambit and KPMG confirmed that 73 Indian companies had a net worth above $1 billion and 156 had market capitalisation above that figure.

?So we knew there was a significant market at this level. Furthermore, with the reserve price for a franchise set at $225 million, the net worth of a successful bidder would be at least four times the reserve price of a new IPL team; a further safeguard against a consortium investing beyond their means.

?Its also interesting to note that part of the BCCI requirement was to generate interest from bidders for whom an IPL franchise was neither its sole, or its main business. Capitalisation of at least four times the reserve price, would ensure that bidders would clearly have other, significant interests and would also help to ensure their ability to meet annual payments over the required ten-year franchise period. In summary then, the BCCI wanted involvement from those who already had credibility, not those for whom the IPL would provide it.?

For some reason, the BCCI had a late change of heart and, after approving the initial conditions, they effectively brought more bidders into the mix by requesting lower the capitalisation requirement.

?After the award of the franchises to Kochi and Pune, the issue was compounded by my unease with the make up of the consortium which successfully bid for Kochi. Within the shareholding, there were members who were not bearing any of the risk and simply enjoying the potential benefits. This, of course meant others were subjected to a greater proportion of responsibility and I believed such an arrangement could result in potential default at some point - and problems for the IPL," he wrote.

Modi noted that 18 months later, the BCCI has terminated the Kochi contract on the basis of an unpaid bank guarantee which, according to new President N Srinivasan, ?....is not capable of being remedied." As a consequence, the BCCI now stands to lose more than $300 million by virtue of reduced commercial revenue because Kochi?s suspension means fewer teams and therefore games - not to mention a loss of credibility for the IPL itself.

Modi said it will be interesting to see who takes responsibility for an outcome he had predicted even before the contract was signed. ?It is a situation that could have been avoided but what it shows is that the unsubstantiated accusations made against me suggesting I imposed ?onerous? conditions purely to try and manipulate the bidding process towards my preferred bidders has been shot to pieces.?

MUMBAI: The application in the pending civil appeal filed by AC Muthiah has been turned down by the Supreme Court, giving a go ahead to N.Srinivasan to assume charge as Board of Control for Cricket in India (BCCI) president.

A Division bench of the Supreme Court of India comprising Justice Aftab Alam and Justice RM.Lodha cleared the way for N. Srinivasan to take his new role as BCCI President.

 
While allowing Srinivasan to take over as BCCI chief, the bench also made it clear that his appointment would be subject to the final outcome of a petition by former BCCI president A C Muthiah, questioning his eligibility for holding any Board post while owning an IPL team.

Giving details on the same senior advocates Aryama Sundaram and P.S Raman representing the BCCI stated that no interim order is passed on AC Mutthiah‘s plea to request stay on N Srinivasan taking his new role as BCCI president. He is due to take over from Shashank Manohar as president on 19 September 2011.

Representing N.Srinivasan, senior advocate Gopal Subramanium and Hari Shankar.K Advocate said that N.Srinivasan is free to take his new role as the BCCI president.

The apex court passed the order on Muthiah‘s application pleading that Srinivasan should be restrained from taking over the charge of the Board till disposal of his plea against him.