N Srinivasan Current Affairs - 2019

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India Cements transfers Chennai Super Kings franchise to new subsidiary

India Cements has transferred the Indian Premier League (IPL) team- Chennai Super Kings Cricket (CSK) franchise to its new subsidiary Chennai Super Kings Cricket (CSKC) Limited.

This decision was taken by India Cements Vice-Chairman and Managing Director (MD) N Srinivasan led company’s Board of Directors meeting held in Chennai, Tamil Nadu.

While demerging CSK, the Board has approved a reorganisation plan for the newly formed subsidiary. This move will also help shareholders of India Cements exercise their choice- to own only the cement business or the cricket franchise or both

With this decision, CSK will be first franchise team in IPL history to be owned by the shareholders of a company.

Background

Earlier in September 2014, the Board of Directors India Cements had approved the proposal to demerge Chennai Super Kings (CSK) into a wholly-owned subsidiary of the company, by transferring its net assets at cost.

Under the ownership of India Cements, CSK led by Mahendra Singh Dhoni, had won IPL tournament twice. For first time in IPL Season 3 (2011) and second time in IPL Season 4 (2012).

Month: Categories: Business, Economy & Banking

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India to host ICC World Twenty20 in 2016

India is going to host International Cricket Council (ICC) World Twenty20 in 2016.

It was announced by ICC Board meeting chaired by Chairman N. Srinivasan held in Dubai. ICC Board meeting also scheduled the ICC events during the period 2015-2019.

Following schedule was announced

  • India will host the World Twenty20 from 11 March to 3 April 2016. While, Ireland and Scotland will host the qualifiers between 6-26 July, 2015.
  • England will host three ICC events in the next four-year period.
  • In 2017, England will host two events- the Champions Trophy from 1 to 19 June and Women’s World Cup from 4 to 27 August and 2019 ICC World Cup from 30 May to 15 July 2019.
  • 2018 Women’s World Twenty20 will be organised in the West Indies between November 2 and 25.

Month: Categories: Sports & Games

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