Fawad Rana is back in PSL – Fawad Rana won the case against Atif Rana & Sameen Rana
A serious ownership dispute has emerged within Lahore Qalandars between brothers Fawad Rana, Atif Rana, and Sameen Rana, following a legal ruling by retired Justice Maqbool Baqar appointed by the Supreme Court of Pakistan.
The decision states that the current management must either return majority control of the franchise to Calco, the Qatar-based company owned by Fawad Rana, or pay approximately PKR 2.96 billion against the shares. A period of 40 to 45 days has been given for compliance.
Fawad Rana originally acquired the Lahore franchise in 2015 through Calco for 26 million dollars. In 2016, a Pakistani company, Kausar Rana Resources (KRR), was formed, with Calco holding 51 percent shares. Over time, share transfers reduced Calco’s control. In 2020, Fawad Rana transferred his remaining shares to his brothers without documented payment, based on trust.
Court findings confirmed there was no financial record of this transfer. Later, 30 percent shares were reportedly sold to another party without Fawad Rana’s knowledge.
The ruling now requires KRR to either compensate Calco or restore 51 percent ownership, which would return control to Fawad Rana. Atif Rana has decided to appeal, and until the appeal is resolved, he and Sameen Rana continue to run the franchise.
Calco’s legal team has requested the PCB not to sign agreements with the current management until the matter is settled.
