Sunanda Pushkar sells stake in Kochi IPL?

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New Delhi: The Kochi IPL saga shows no signs of ending. Sources have told CNN-IBN that Sunanda Pushkar, who held a sweat equity of about five per cent in the franchise, may have sold off her stake to a former Indian cricketer.

CNN-IBN has got access to a letter signed by one Dilip Kumar claiming to be the vice-chairman, of Rendevous sports world pvt ltd, one of the six consortiums partners in Kochi in IPL. In the letter addressed to 'Whomsover this may concern', Dilip Kumar - who is said to be an Dubai-based NRI - says he is assigned mandate to seek sponsorship for the Kochi team. Till now, the company wasn't known to have any chairman or vice-chairman, and it was primarily Pushkar's responsibility to find sponsorships for the franchise.

Sources in the franchise have said they weren't aware of the existence of any Dilip Kumar, while Board sources also seemed unaware of the development.

And that brings up the big questions. Has Pushkar really sold off her stake, and if so, at what price? Who is the former Indian cricketer who has allegedly bought the stake? And who are Jayant Bhokhare and Shyam Haridas who have been assigned the responsibility of finding sponsors by Dilip Kumar?

While this one too looks to have more mystery inside, there could be trouble for the franchise itself. Any change in the share-holding pattern must be communicated to the BCCI and due permission taken for it - but that doesn't seem to be the case.

Also, if Pushkar has actually sold her stake, has she has informed the income tax and FERA authorities. Though suspended IPL chief Lalit Modi is far away from the goings-on, the Kochi saga shows no signs of ending, atleast for now.