BCCI President-in-exile N Srinivasan led India Cements' board today approved transfer of IPl team CSK to a wholly-owned subsidiary Chennai Super Kings Cricket ltd. “...Pursuant to the decision of Board of Directors of India Cements ltd, the company transferred the IPl franchise rights to its wholly-owned subsidiary Chennai Super Kings Cricket ltd,” Srinivasan told reporters after the meeting.
He further said: “The Board considered a proposal for reorganisation of Chennai Super Kings Cricket ltd under which ownership of the franchise will be issued to the shareholders of India Cements ltd, subject to necessary approvals.” Earlier on September 26, 2014, the Board of Directors of the company had approved the proposal to demerge Chennai Super Kings into a wholly-owned subsidiary of the company, by transferring its net assets at cost.
Kkr, Mi to begin IPl-8
Delhi: Defending champion Kolkata Knight Riders and former winner Mumbai Indians will kick start the eighth season of Indian Premier league (IPl) at the Eden Gardens on April 8. The MCA International Stadium at Pune will host three home games of Kings XI Punjab, whilst the Dr. YSR ACA-VDCA Stadium at Visakhapatnam will host three home games of Sunrisers Hyderabad. The Pepsi IPl 2015 final will be played at the Eden Gardens in Kolkata.