July 24, 2010 1:46:18 pm
A local court on Saturday issued arrest warrants against IPL franchise Kings XI Punjab co-owners actress Preity Zinta and industrialists Ness Wadia and Mohit Burman for failing to appear before it on a complaint accusing them of not filing its balance sheets and annual returns.
The bailable warrants were issued by Chief Judicial Magistrate J S Sidhu after neither the three co-owners nor their counsels appeared before the court on a complaint filed by the Registrar of Companies (ROC) in Chandigarh.
However,another co-owner and industrialist Karan Paul’s counsel appeared before the court and submitted that he would appear in person on the next date of hearing.
The court later adjourned the case till October 4.
The court had in April issued notice to the four co-owners of KXIP and fixed July 24 as the next date of hearing.
The prosecution submitted that the co-owners of the company had tried to conceal the financial position of KPH Dreams,which owns KXIP,from the public by not filing the balance sheets and annual returns.
In our complaint,”we had submitted that the Mohali franchise had not filed any annual return and balance sheet since it came into existence,” Gaurav Hooda,counsel for the ROC,said on Saturday.
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