Mumbai: Embattled IPL franchise Deccan Chargers has been instructed by the Bombay High Court to pay the BCCI a 100 crore guarantee by October 9, and bear all costs for the 2013 season.
The wire transfers must be made by the franchise owners, media company Deccan Chronicle Holdings (DCH), before October 3 and all outstanding dues for hotels for IPL 5 by October 31.
Any further insolvency on Deccan’s part can result in termination of the franchise by the BCCI. The BCCI’s outstanding dues to DCH, amounting to 15 crorer, will have to be given to the court.
The Hyderabad-based franchise has been ordered to bear all costs of the team for the upcoming season.
The BCCI will be allowed to float tenders for a tenth team at a to-be-decided date.
More to follow …
(For updates you can share with your friends, follow IBNLive on Facebook, Twitter, Google+ and Pinterest)
IPL Spot-Fixing: Is cricket facing its worst credibility crisis?
Day 2: How the IPL 6 spot-fixing crisis unfolded
How spot-fixing is done in a cricket match
Chandila has been trapped by Delhi Police, says lawyer
IPL 6 spot-fixing stain spreads, more players under the scanner
IPL is 'the sunniest of places for the shadiest people'
Police team to recover money Chandila, Sreesanth received: sources
First Chappell, now Sreesanth; feel bad for Dravid: Sourav Ganguly
