India Cements' rival Chettinad Cement likely to bid for Chennai IPL team: Report

New Delhi: Indian Cements' competitor Chettinad Cement are likely to bid for Chennai team when auction to incorporate two new teams is held in New Delhi on Tuesday.

"Chettinad Group has shown interest and we are told that they are the competitors of the Indian Cements in Chennai," a BCCI official told Times of India.

It is learnt that Cycle Brand Aggarbatti and Star India have also bought bid document from the BCCI.

"There are 21 corporates and large business houses which have bought bid documents. Now buying bid documents doesn't necessarily mean participating in the bid," a top BCCI official told PTI on Sunday.

While Star Sports are official broadcasters of India's home matches as well as matches in Australia, England and ICC tournaments, thinking about buying an IPL team could be a significant development.

Cycle Brand Agarbatti has also been associated with BCCI as sponsors during various international series.

Those who will buy team will be owning it for two years.

The bidding process will be in reverse order as the lowest bidder will be owning the team.

Chennai Super Kings and Rajasthan Royals have been banned for two years after former BCCI president N Srinivasan's son-in-law Gurunath Meiyappan and Raj Kundra were found guilty for their involvement in spot-fixing and betting scandal.

Both have been banned for life on recommendations of the Supreme Court-appointed Justice Lodha Committee.

(With Agency inputs)