Indian Premier League (IPL) team Kings XI Punjab finished up on the wrong side of the law today when a court issued bailable arrest warrants to its three owners including actress Priety Zinta, industrialist Ness Wadia and businessman Mohit Burman.

Chief Judicial Magistrate J. S. Sidhu issued the arrest warrants after the three owners failed to appear before the court in a case against them.

The case against the team owners was lodged by the Registrar of Companies (ROC) office during April, accusing them of not forwarding their balance sheet and returns.

Preity Zinta, Bollywood Actress, separated from her boyfriend Ness Wadia, industrialist, to keep her financial freedom. Everything was fine before the IPL tournament in May 2009. In fact, both of them had decided to get married, likely at the end of this year.

A source close to the development told, "Ness said Preity that he wouldn't like her to work in films after their marriage. Naturally, Preity was shocked. She first thought he was just joking but after recognizing the seriousness of Ness she was brokenhearted."

Finally, the dimpled-beauty Preity Zinta has formally declared that her relationship with Bombay Dyeing scion Ness Wadia is no more.

Miss Zinta sent an e-mail to her IPL team ‘Kings XI Punjab’ that Ness is only her business partner, and they do not have any personal relationship.

A source in Cape Town said, “As there has been a lot of buzz about their personal equation, Preity being extremely professional, felt it was important to clear the air.”

The 'inevitable' has happened. There are cracks in the hunky-dory relationship between Preity Zinta and Ness Wadia, the suave industrialist son of Maureen and Nusli Wadia.

If rumors bobbing up out of the Bollywood insiders are to be trusted, Preity and Ness are constantly having problems.

And all the confusion happened because of IPL and Preity’s apparent liking for Team Mohali’s casanova captain Yuvraj Singh or ‘Yuvi’.

Moreover, Ness’s investment in the IPL also reportedly suffered a beating and what the Wadia scion’s views on this must be is anybody’s guess.