New Delhi: The fate of IPL franchise Kochi will be decided in the governing council meeting to be held today in Nagpur.

The crux of the dispute in the Kochi franchise is who will run the affairs of the franchise, bought from the Cricket Board for USD 333 million, once the joint venture was formed.

The investors include corporate firms Anchor Earth, Parinee Developers, Rosy Blue and Film Wave - who hold 75 per cent of the equity.

The remaining 25 per cent has been given to the family of Gaekwads - Shailendra, his brother Ravi and their parents, plus a few others, all part of the group of promoters - Rendezvous Sports World - as free equity for services rendered in successfully bidding for the franchise.

The Board had given the franchise 10 days' time on October 10 to resolve their internal differences and the franchise responded by submitting a letter to the BCCI on the last day of the deadline - October 20.

The BCCI today said it was not aware of the Kochi consortium's "links" with ex-India captain Sunil Gavaskar, who was a member of the IPL's Governing Council before being ousted a few weeks ago.

However, Gavaskar's alleged involvement in the whole process may just include another item in the agenda of the IPL Governing Council when they meet tomorrow in Nagpur to decide the fate of the Kochi team