Kochi, Oct 2 (IANS) Kerala Cricket Association (KCA) secretary T.C. Mathew said Saturday that if the Kochi Indian Premier League (IPL) team is not registered as per the Companies Act in 15 days, it would be difficult for it to take part in the next edition of the Twenty20 league.

Mathew said time is fast running out for the owners to take part in the 2011 season.

"As things stand, there seems to be some sort of problem among the stakeholders and we can't say that there are two factions. The KCA is celebrating its diamond jubilee here on Oct 7 and the Kochi IPL stakeholders will also be here for discussions," said Mathew.

Rendezvous Sports World in March won the franchisee rights for the Kochi IPL team for a bid price of Rs.1500 crore.

"At the recent BCCI meeting in Mumbai, it was made clear that there cannot be any more unofficial contracts. Like every IPL team has to enter into an agreement with the BCCI, they also have to enter into an agreement with the respective state cricket associations. Once they are here next week, we will sit with them," added Mathew.

Rendezvous Sports World is owned by a consortium that includes Vivek Venugopal, a businessman based in and out of the state. Shailendra Gaekwad is also one of the owners.

Venugopal with other five companies has formed a group called Kerala Consortium. The others are Anchor Earth, Parani Development Pvt Ltd, Anand Shah Developers and Film Waves.

Mathew also added that as for the KCA, it is involved only in the cricket part of the IPL team.

"The other issues are not in our hand and we are not involved in that, but we will do our part to see that things are worked out to the best interest of all the cricket lovers in the state," added Mathew.