DCHL told to pay bank guarantee to cricket board
2 Oct 2012 1:05 AM GMT
Bombay High Court on Tuesday asked Deccan Chronicles Holdings Ltd to give an irrevocable and unconditional bank guarantee of Rs 100 crore to the BCCI on or before October 9 while observing that the Cricket Board has acted in haste to terminate IPL franchise Deccan Chargers.
The bank guarantee would be in force for one year, said justice SJ Kathawala who heard a petition filed by DCHL challenging BCCI's decision to terminate the contract of the Hyderabad franchise. BCCI took the decision last month at its emergency IPL Governing Council meeting. The court further observed that DCHL shall bear all expenses for IPL 6 like making payments to BCCI towards franchise, players and support team costs.
The bank guarantee would be in force for one year, said justice SJ Kathawala who heard a petition filed by DCHL challenging BCCI's decision to terminate the contract of the Hyderabad franchise. BCCI took the decision last month at its emergency IPL Governing Council meeting. The court further observed that DCHL shall bear all expenses for IPL 6 like making payments to BCCI towards franchise, players and support team costs.
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