Updated
New Delhi, Mar 17 (PTI) : IPL franchise Royal Challengers Bangalore has written to the Indian cricket board (BCCI), intimating them about Vijay Mallya's resignation from the post of Director of Royal Challengers Sports Private Limited (RCSPL).
According to reliable sources, the top BCCI officials in the IPL governing council received an e-mail on March 7 from franchise official Russell Adams, informing the board about the current ownership status in the franchise. It was five days after the troubled business tycoon left India for United Kingdom.
"Yes, we received an e-mail communication from Russell Adams, who will now be the man in-charge of the RCB team. The e-mail stated that Dr Vijay Mallya has resigned from his post as Director of RCSPL and will only be an Honorary Chief Mentor till his son Siddhartha is in the Board of Directors," a senior BCCI official, in the know of things told PTI today.
The letter stated that Siddhartha Mallya will be present in the Board of Directors "in a limited role should the members wish to consult him".
Adams, who is a Vice-President (Commercial Operations and Cricket Academy at RCB), also made it clear that there will be "no change in ownership pattern" due to Mallya's resignation.
The BCCI official said that clarity on ownership was required after Mallya's resignation.
"BCCI has some strict rules and regulations in place regarding franchise ownership changing hands. The owners need to intimate BCCI beforehand whether there is partial or complete transfer of stake. As of now they have made it clear there is no change in ownership pattern in RCSPL which is a subsidiary of United Spirits, which is controlled by Diageo," the official said.
Mallya, who has defaulted in loans in excess of Rs 9000 crore, is facing probe by various investigative agencies.
The 60-year-old bought RCB in 2008 but the popular franchise has not been able to win a single Indian Premier League title in eight attempts.
Earlier news
SBI starts auction of Mallya's Kingfisher House
Mumbai, Mar 17 (PTI ) : E-auction for beleaguered businessman Vijay Mallya's Kingfisher House closed as lenders failed to get any bids on Thursday.
Lenders to long-grounded Kingfisher Airlines today morning began auctioning the KFA headquarters - Kingfisher House - situated near the domestic airport here.
The property, with a built-up area of over 17,000 sq ft in Vile Parle area, is being auctioned by SBICAPS Trustee, a subsidiary of SBI Caps through an e-auction.
The auction is being conducted on e-auction property platform, AuctionTiger.
The base price for the property has been set at Rs 150 crore.
The auction is being conducted under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (Sarfaesi), 2002.
The property was taken over in February 2015 by a consortium of 17 banks lead by State Bank of India in a bid to recover Rs 9,000 crore loan given to the airlines.
Burdened under huge losses and liabilities, including to the lenders, the airline was grounded in late 2012.
While lenders have stepped up their efforts to recover dues totalling over Rs 9,000 crore, the founder and main promoter Mallya left the country earlier this month.
Recently, the Enforcement Directorate registered a money laundering case against Mallya and others based on a CBI FIR registered last year.
The agency is also investigating the overall financial structure of Kingfisher Airlines and will look into any payment of kickbacks.
Kingfisher Airlines faces a probe by the Serious Fraud Investigation Office (SFIO) into its allegedly 'inflated' brand valuation of over Rs 4,000 crore.
The government's white-collar fraud detection agency is probing whether such a high valuation was arrived at fraudulently to get more funds from banks and siphon off the additional money for purposes other than proposed investment in the airline.