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India Cements Values IPL Franchise Rights at Rs 7.83 Crore
29 May 2015, 04:59 PM IST i

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New Delhi: India Cements transferred the franchise rights of IPL team CSK at a net asset value of Rs 7.83 crore to a wholly-owned subsidiary, Chennai Super Kings Cricket Ltd (CSKCL) but sold its entire stake in the arm to another trust for just Rs 5 lakh.
The BCCI approved the transfer of the franchise rights to CSKCL subject to the condition that India Cement provided a parent company guarantee that subsidiary would meet all the ob...
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