Kings XI duped of Rs 14 crore

New Delhi: KPH Dream Cricket Pvt Ltd, the owners and promoter of the IPL franchise Kings XI Punjab, has filed a criminal complaint against its title sponsor, NVD Solar Ltd and its officials, for “cheating and duping” them of around Rs 14 crore which they were supposed to pay it as per a contract.
KXIP has also issued a legal notice to the company, one of India’s leading solar equipment makers, for bouncing four cheques of Rs 25 lakh each by NVD India to KPH.
Kings XI Punjab’s co-owner and noted industrialist Ness Wadia told PTI that they have been left with no other option but to take a legal recourse against NVD Solar Ltd and its Managing Director Saibal Hazra.
Hazra told PTI that the deal was struck with their Bangladeshi entity and the Indian company had nothing to do with the case.
“It is an agreement between NVD Solar International Bangladesh and Kings XI Punjab, so this is not a deal with the Indian company.” (PTI)