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Deccan Chargers terminated, new tender floated







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Deccan Chronicle Holdings’ IPL franchise, Deccan Chargers have been terminated from the Indian Premier League as its owners failed to furnish a Rs 100 crore bank guarantee to the BCCI.

The High Court appointed arbitrator, declared a status quo on the matter till 17th October, but the BCCI challenged the order on Saturday, 14th October, in the Bombay High Court which has put a stay on it.

On 12th October, Deccan Chronicle Holdings, had sold the franchise to Kamla Landmarc Real Estate Holdings, a real estate company. Deccan Chronicle Holdings mentioned in a filing with the Bombay Stock Exchange that the company’s board was authorised to sell, transfer/ dispose off the Deccan Chargers Franchise  to Kamla Landmarc Real Estate Holdings Private Limited, but that the deal was subject to the approval of the shareholders of the Company and of concerned authorities, lenders and other third parties.

The BCCI has now floated a new tender for a fresh franchise, which also include Hyderabad, the city where Deccan Chargers was based.

bcci invites bids for new ipl team Deccan Chargers terminated, new tender floated



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