Court rejects cricket board's plea against Punjab Kings XI

The development comes a day after the court quashed the BCCI's termination notice against another IPL franchisee Rajasthan Royals.

Expressing happiness at the outcome, Punjab Kings XI team's owners - industrialist Ness Wadia and actress Preity Zinta - told mediapersons that their stand had been vindicated.

"We had always maintained that we were right since 2008. We support the BCCI and shall continue to do so to make IPL-4 stronger," Wadia added.

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