Deccan Chargers' hopes of staying in the Indian Premier League is over after the Supreme Court Friday dismissed their plea against the termination from the high-profile league.
Last week, the Bombay High Court also withheld the BCCI's termination decision after the franchise failed to submit a deposit of Rs 100 crore.
Prior to that ruling on October 12, the franchise had also failed to find a buyer in an auction. Though the owners had claimed otherwise with this statement just before the ruling: This is to inform you that pursuant to its Meeting of the Board of Directors held on October 11, 2012, it was resolved to authorize the Board of Directors to sell, transfer/dispose off the Deccan Chargers Franchise business undertakings/business division of the Company to Kamla Landmarc Real Estate Holdings Private Limited.
The BCCI terminated the franchise last month due to a severe financial crisis within the Deccan Chronicle Holdings Limited, the owners of the team....more
01:16 PM, Jul 09, 2008