Kings XI Punjab lost Rs 250 mn in first year

[aman1987]

[FONT=Verdana, Arial, Helvetica, sans-serif]MUMBAI: The Kings XI Punjab Indian Premier League (IPL) franchise has informed the government that it lost Rs 250 million in the first year.[/FONT] [FONT=Verdana, Arial, Helvetica, sans-serif]The BCCI is conducting an inquiry into the shareholding pattern of the franchise.[/FONT] [FONT=Verdana, Arial, Helvetica, sans-serif]
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[FONT=Verdana, Arial, Helvetica, sans-serif]In the financial statements submitted to the Registrar of Companies (RoC), KPH Dreams Cricket says that total income in 2008-09 was Rs 550 million while the total expenditure stood at close to Rs 800 million.[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]Kings XI Punjab expects to break even by March 2011. Preity Zinta and Ness Wadia hold 23 per cent stake each in the franchise, while Apeejay-Surrendra Group chairman Karan Paul has a four per cent equity. The balance 50 per cent is with MB Finmart and Windy Investments.[/FONT]