Pune: In an unprecedented move, the Zavaray Poonawalla-headed group of five, which recently got elected to the managing committee of the Royal Western India Turf Club (RWITC) Ltd, stepped in to rescue the race club from what would have been an embarrassing situation for the once-premier institution with the grade 1 Pune Derby just round the corner (October 13).

In the absence of a sponsor the Pune Derby, the plum event of the Pune monsoon racing season, was in serious trouble as it has to offer a guaranteed stake money of Rs 40 lakh for the race. But with only Rs 25 lakh in the kitty as sweepstakes contribution, the race club, already in dire financial strait due to the presence of an exorbitant (28%) GST and absence of bookmakers, was staring at a gaping hole of Rs 15 lakh with only four days to go.