The Board of Control for Cricket in India (BCCI) terminated the contract of the Indian Premier League (IPL) franchise Deccan Chargers on Friday evening after their … Bombay High Court Tells BCCI to Pay Deccan Chargers Rs 4800 Crore. “The termination was done only to accommodate one of the teams who had decided to have a cricketing franchise. The team was one of the eight founding members of the IPL in 2008 and was owned by Deccan Chronicle Holdings Ltd. After finishing last in the first season of the IPL, they won the second season held in South Africa in 2009 under the captaincy of former Australian wicket-keeper and batsman Adam Gilchrist. They left the IPL … The lawyer further added that the arbitrator also held the termination of the franchise as illegal. The … DCHL's lawyers are also believed to have told the court that it was trying to "negotiate" selling the franchise to a private bidder. Yes, MI's highest run-scorer, Rohit holds one of the great records of taking a hat-trick in IPL. The failure to produce the bank guarantee meant that the court's status quo on the franchise's termination was automatically lifted, which leaves the BCCI free to invite bidders for a new franchise. The bank guarantee to be paid to the board was Rs. And it came against Mumbai Indians. Fro… Deccan Chargers, who were last seen in IPL 2012, won the second edition of the tournament in 2009. The Chargers, who were owned by the Deccan Chronicle newspaper group, were kicked out of the IPL in 2012 by the BCCI for financial breaches. The Deccan Chargers (abbreviated as DC) were a franchise cricket team based in the city of Hyderabad in the Indian Premier League. The move came after the owners failed to honour the Bombay High Court condition of paying up a bank guarantee of Rs 100 crore by 5pm on Friday. The board had given the cash-strapped franchise until 5 PM Saturday to submit the money, but the owners failed to do so. Sanjay Bangar is perhaps one of the most underrated players in the history of Indian cricket. Not as much as analysts and coaches might want, Three squandered chases bring Sunrisers Hyderabad's middle order into the spotlight yet again. The Board of Control for Cricket in India (BCCI) has been ordered to pay Rs 4,800 crore to Deccan Chronicles Holding Ltd (DCHL) over the termination of the company's Indian Premier League (IPL) franchise team (Deccan Chargers) as per an arbitrator, a DCHL lawyer claimed. The lawyer further added that the arbitrator also held the termination of the franchise as illegal. On Tuesday, DCHL sought a three-day extension to provide the guarantee, and was given till 5 pm on Friday. 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ESPNcricinfo The Deccan Chargers franchise is one formal step away from losing its IPL status with its owners failing to produce, within the Friday evening deadline, the Rs 100-crore ($19 million) bank guarantee the Bombay High Court had set as the condition for the team's survival in the league. Deccan Chronicle Holdings who paid $107 million to buy the franchise in 2008 had earlier informed the Indian stock exchanges that they had decided to sell the team to a Mumbai-based real estate company, Kamla Landmarc. Franchise termination The owners put the franchise up for sale in 2012 due to the constant banning of team players in previous seasons but declined the sole bid. The matter then went to court where on October 1, while delivering his final judgement in the case, Justice S J Kathawala had asked DCHL to comply with various undertakings in order for the franchise to return to the IPL fold. The conditions included clearing the player dues and other liabilities for the fifth season of the IPL, and also the bank guarantee, only from a nationalised bank. According to sources, no bank came forward to pay the guarantee. Talking Points: What makes de Villiers the best at the death? Adani Power 87.20 4.1. Deccan Chargers terminated from IPL The Deccan Chargers IPL franchise has ceased to exist with its owners failing to produce, by the Friday evening deadline, a Rs … Their subsequent performances were patchy - they finished fourth, seventh and eighth in the last three seasons. Benchmarks . DCHL sought an extension to Friday's deadline until October 15 to submit an "irrevocable and unconditional" bank guarantee but the High Court refused to grant further time. 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