On paper, they have been granted a 30-day deadline to settle their ownership dispute, but there's no secret in the fact that the Governing Council of the Indian Premier League (IPL) was forced to grant the consortium a lifeline due to a contractual obligation.

Brothers and palms: Shailendra (left) with Satyajit Gaikwad at the media briefing recently

So why did BCCI grant Kochi a respite? Here are the reasons:

>> The majority of investors are said to have agreed to Rendezvous' plea to bring down their 25 per cent free equity to 12.5 per cent, with Rendezvous investing the remaining 12.5. The Gaikwads are still adamant about holding on to their 25 per cent equity. They have minuted the details and sent it to BCCI. They have requested the Board to give them permission to make such structural changes.