High Court issues stay order on Deccan Chargers termination

The BCCI on Friday terminated the contract of the debt-ridden Deccan Chargers AFP

By CricketCountry Staff

Mumbai: Sep 15, 2012

Indian Premier League (IPL) franchise Deccan Chargers (DC) heaved a sigh of relief on Saturday as the Mumbai High Court stayed the Board of Control for Cricket in India s (BCCI) termination notice.

The BCCI on Friday terminated the contract of the debt-ridden Deccan Chargers, bringing an end to the suspense on the fate of the beleaguered franchise.

Earlier PTI reported that the decision to terminate Deccan’s contract was taken at an emergency governing council meeting of the IPL in Chennai. The BCCI President N Srinivasan took the final call to end Charger’s contract after discussing the issue with other members, a top BCCI official said.

Deccan Chronicle Holdings, the owner of Deccan Chargers, had received a bid of Rs 900 crore by PVP Venture Capitals but surprisingly chose to reject it at the auction as it considered the price and terms unsuitable.