Preity Zinta moves court to stall director’s stake sale in firm

Ramkrishan Upadhyay

Tribune news service

Chandigarh, August 13

Preity Zinta, film actress and one of the directors of KPH Dream Cricket Private Limited, has moved the Chandigarh court seeking injunction orders to restrain Mohit Burman from selling, disposing of and creating any third-party rights upon his 11.5 per cent shareholding in the company.

She said she holds 23 per cent of the firm’s shares and has also prayed before the court to restrain the company from registering the transfer of the 11.5 per cent shareholding of Burman. The court has issued notices to the respondents for filing the replies.

Preity Zinta said Burman holds approximately 48 per cent of the shareholding and is also on the board of directors. She has filed the petition under Section 9 of the Arbitration and Conciliation Act-1996 seeking interim measures and direction in view of the disputes and differences between her and respondent Mohit Burman.

KPH Dream Cricket Private Limited is a private limited company incorporated under the Companies Act-1956. The company holds a franchise of the Indian Premier League (IPL).

She said she is constrained to file the petition for interim measures of protection before commencement of arbitral proceeding in view of the bad faith and mala fide behaviour on the part of Burman in violation and total disregard of the petitioner’s valuable pre-emption rights expressly reserved under Article 19 of the company.

She said Burman has unequivocally threatened to take further steps to sell his 11.5 per cent shareholding in the company to a third party. This necessitating urgent interim measures of protection as prayed for in the present petition.