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HC orders status quo on Chargers

Mumbai, September 17, 2012, DHNS:
The Bombay High Court on Monday instructed the Board of Control for Cricket in India (BCCI) to maintain the status quo and desist from terminating the IPL franchise of the cash-starved Deccan Chargers owned by the Deccan Chronicle Holdings Ltd.
The matter has been posted for hearing for September 24.

The BCCI had, at an emergency meeting in Chennai on Friday, decided to terminate the contract of Hyderabad-based IPL franchise.

The next day, Deccan Chargers prayed to the High Court that BCCI's decision was illegal and bad in law. It also sought a stay on clearing fresh tenders for a team from Hyderabad.

The BCCI informed the court that it was not inviting tenders for the Deccan Chargers’ team, but for new teams from cities like Ahmedabad, Visakhapatnam and Coimbatore. However, the BCCI contended that Deccan Chronicles Holdings had been maintaining an obstinate stand on the issue.

“Every effort was made to save the franchise during the Chennai auction held last Thursday. Only when the default became a grave issue that an emergency meeting was called at Chennai on Friday evening,” sources said.

During the auction, Deccan Chronicle Holdings Ltd had rejected the only bid from PVP Venture Capitals worth Rs 900 crore, as it felt that the price and terms were inappropriate.

The board, in its official statement, also buttressed the argument, stating that the governing council, during its meeting, deliberated seriously on the ramifications of terminating the contract and expressed concern over the interest of players if there was a delay in taking a decision.

 

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