Advertisement


Advertisement

Thread Rating:
  • 10 Vote(s) - 3.1 Average
  • 1
  • 2
  • 3
  • 4
  • 5
IPL: Rajasthan Royals and Bajaj Allianz part ways
#1
Advertisement
Last year's Indian Premier League (IPL) winner, Emerging Media-owned Rajasthan Royals (RR), and the insurance major Bajaj Allianz have mutually agreed to part ways by together withdrawing the court cases in Delhi and Mumbai respectively.

Last year, the MoU was performance based and structured payments were to be released on the team reaching the various stages of the tournament. After the team won the first season, Rajasthan Royals made a revised proposal to Bajaj Allianz, which RR thought to be a win win situation for both parties. This led to some differences between the two parties.

Later, when the Champions League agreement did not fructify and Bajaj wanted to air their advertisements, Rajasthan Royals went ahead and terminated the MoU and filed legal proceedings against Bajaj Allianz over non-payment of dues.

Manoj Badale, CEO, Rajasthan Royals, said, "We had an excellent relationship with Bajaj Allianz, who supported us when we were the underdogs. Currently, we have decided to withdraw the legal proceedings and resolve the issues out of court. In hindsight, after parting ways, we feel that the relationship could have been taken to a mutually beneficial level.

Kamesh Goyal, country head, Allianz and CEO, Bajaj Allianz Life Insurance, said, "We had frank and fair discussions on all the issues and have mutually agreed to terminate the present MOU. We wish Rajasthan Royals all the best."

Reply
Thanks given by:
Advertisement
Advertisement




Possibly Related Threads...
Thread Author Replies Views Last Post
  Help: Ways To Get IPL 4 Updates FREE greatsadiq 0 1,096 04-06-2011, 04:31 PM
Last Post: greatsadiq
  Help: Royals move Bombay HC against BCCI Mr.Bhat 0 727 10-25-2010, 01:25 PM
Last Post: Mr.Bhat
  Kochi, Punjab, Rajasthan franchises out of IPL 4? Mr.Bhat 2 1,112 10-11-2010, 03:27 PM
Last Post: Mr.Bhat
  Rajasthan Royals, Kings XI Punjab out of IPL, Kochi spared Mr.Bhat 1 856 10-10-2010, 06:49 PM
Last Post: greatsadiq
  Golf, Rugby to be part of 2016 Olympics Mr.Bhat 1 1,200 03-08-2010, 03:42 PM
Last Post: rushal
  Cricket can bid for being part of 2020 Olympics Sathish 0 759 02-13-2010, 11:29 AM
Last Post: Sathish
  Sean Morris New CEO of' Rajasthan Royals' Mr.Bhat 1 1,110 12-07-2009, 10:14 PM
Last Post: Sathish
  Champions League becomes part of ICC FTP Mr.Bhat 0 734 05-28-2009, 05:24 PM
Last Post: Mr.Bhat
  IPL 2: Kolkata Knight Riders v Rajasthan Royals, 10th Match Sathish 0 855 04-24-2009, 02:06 PM
Last Post: Sathish
  IPL 2: Mumbai Indians v Rajasthan Royals, 7th Match Sathish 0 909 04-21-2009, 11:01 PM
Last Post: Sathish

Forum Jump:


Users browsing this thread: 1 Guest(s)
Advertisement