Harshad Mehta is chairman of Kochi IPL franchise

Embroiled in a major controversy over its stakeholders, the Kochi IPL franchisee on Thursday effected a change in its top management, appointing Dubai-based businessman Harshad Mehta as its Chairman.

Keshav T has been named as the new chief executive officer in place of Shailendra Gaikwad, Kochi team sources said.

Although there was no official word, it was learnt that Satyajit Gaikwad no longer functions as the spokesman amid speculation that he has been sidelined because of his controversial statements in the past few days.

Mehta is the chairman of the Dubai operations of Rosy Blue Diamond but his stake in IPL Kochi franchise is personal.

The businessman has been based in Dubai with his family since 2003 and his company operates from the Jebel Ali free zone.

The Kochi franchise and the IPL commissioner are currently engaged in a bitter showdown over the identity of the stakeholders.