Mumbai:The Bombay High Court has granted Kings XI Punjab an interim stay on its expulsion from the IPL but said the franchise will have to satisfy certain conditions, including retaining its shareholding pattern, fulfilling pending player payments and paying the BCCI guarantee money in case the final judgement goes against them. The court also rejected Punjab's request to defer the date for submission of the list of players they would like to retain for the fourth edition of the league, the deadline for which expires today. Punjab have until midnight to finalise their list.
After listening to both parties over the last two days, Judge SJ Vajifdar said that "prima facie" Punjab had a strong case against the explusion and the "interim injunction" was only just. But his verdict carried many riders, 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 judgement. Punjab's owners refrained from commenting on the issue before they received the court order in hand tomorrow.