PSL franchise's cheque returned due to insufficient funds

A cheque issued by a Pakistan Super League (PSL) franchise to the Pakistan Cricket Board (PCB) has bounced, it has been revealed.

According to Daily Express, during a Governing Council meeting convened in Lahore, a few days ago, PCB had revealed about a cheque being returned which was issued by a PSL franchise.

The board also said that it reserves the right to take legal action against the offence.

All franchises representatives requested the board from any proceedings since the step would bring a bad name to the league.

It must be noted that three to ten years punishment is levied on such an offence.

According to a source, the PCB has informed the franchises representatives that the name of the team would not be disclosed however, all the franchises must pay the dues at earliest.

Also only one franchise has paid 50% of the players fee while others await reliefs in taxes despite the fact that the government has not shown a positive response regarding the matter.

At least three franchises owe a fraction of the fee to the board. One franchise has submitted a bank guarantee; hence the authorities do not fear bank’s bankruptcy but the two others have deposited postdated cheques.

The law requires the franchises to pay half-fees to the board after a draft.