Lahore tribunal restores control of Lahore Qalandars to Fawad Rana

A Lahore tribunal has restored control of the Pakistan Super League (PSL) franchise Lahore Qalandars to Fawad Rana, bringing an end to a prolonged ownership dispute within the Rana family.

According to media reports, the tribunal terminated the control of Sameen and Atif Rana over the franchise and directed them to pay Rs2.96 billion along with markup within 45 days. The court ruled that failure to comply with the order would result in the immediate restoration of majority shareholding to Fawad Rana’s company.

The verdict followed a lawsuit filed by Fawad Rana in 2023, in which he alleged irregularities and fraud in the transfer of shares belonging to his company, CALCO. He maintained that the share transfers were carried out through misrepresentation and deception.

During the proceedings, it emerged that the brothers had sold 30 per cent shares of KRR for $5 million without proper disclosure, a development that became a key factor in the case.

In its ruling, the tribunal declared the transfer of majority shares to Sameen and Atif Rana illegal and ordered that control of the Lahore Qalandars franchise be restored in accordance with the law.

Fawad Rana was closely associated with Lahore Qalandars during the early editions of the PSL and was a prominent public figure for the team.