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The teams have been divided into four groups of three each in the league phase to be held from September 1 to 3, with the top team from each of the three-team groups making it through to the knockout semifinal stage.
The two semifinals will be held on September 5 and 6 at Mohali and Bangalore respectively.
The final would be held on September 8 at Bangalore, a media release from BCCI Secretary N Srinivasan said on Monday.
The detailed schedule of the league matches would be announced later, Srinivasan added in the statement.
The winning team would he richer by Rs one crore and Rs 50 lakh would be awarded to the runner-up of the tournament.
All international players employed with the participating teams will take part in the tournament, and each side would be permitted to include two ‘scholarship’ players from the under-19 age group, Srinivasan said.
Earlier, the Board had shortlisted two more centres -- Chennai and Cuttack -- to host the matches, but then decided to have the matches in only four centres in a bid to make the event more compact.
A few more corporate houses had shown interest in taking part in the tournament but the BCCI has decided to restrict the event in the first year to 12 teams.
The tournament is being held just before the Indian team’s scheduled visit to Sri Lanka for a one-day tri-series and would be a good tune-up for selected players who are employed with the Corporate houses who are taking part in the tournament, what with most players not having played since India’s tour of the West Indies earlier this month.