High Court judgement on Deccan Chargers case on Thursday

Updated: 28 January 2013 15:44 IST

The Bombay High Court on Wednesday adjourned the hearing of the Deccan Chargers' case, and will now give its judgement on Thursday whether arbitrators' order of maintaining status quo of termination of the said IPL team will remain.

High Court judgement on Deccan Chargers case on Thursday
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New Delhi:

The Bombay High Court on Wednesday adjourned the hearing of the Deccan Chargers' case, and will now give its judgement on Thursday whether arbitrators' order of maintaining status quo of termination of the said IPL team will remain.

On behalf of the Deccan Chargers, the argument has been that BCCI should reconsider its stand of termination as outstanding liability is the only ground here.

DC further added that arbitrators had asked to maintain status quo till October 17, but BCCI went ahead and with their fresh bid for tender. Also, that as Memorandum of Understanding (MoU) was underway with a potential buyer, who was willing to pay the bank guarantee, apart from a commitment money Rs 2.5 crore.

DC also put forth the point that if they fail to participate in IPL 6, a team that has been built for around Rs 600 crore in all these years, will become worthless.

Deccan Chargers found support from the privately owned Ratnakar Bank, that has a due of Rs 55 crore to DC.

The bank pointed out that BCCI is acting hastily because if Deccan Chargers manage to sell the team, the cricket board will get only 5 per cent of the amount. But, a team through fresh tender means the entire sum goes to BCCI.

The bank also pointed that if DC can provide the bank guarantee, why can't BCCI wait for some more time. It was also argued that as the governing body, BCCI was only thinking about a new team and the money, but not about the existing players who have a 3 years contract with Deccan Chargers.

In reply to these, BCCI argued that they have acted only upon enough reasons and they have letter from an international player who complained his payment being taken away by DC. Reportedly, South African JP Duminy claimed that the money that was paid to him by DC, was withdrawn from his account later.

BCCI argued that they have shown no hurry in terminating the frnachise as it was in the month of May that payments were made to the players, and they only acted in the month of September.

Topics : Board of Control for Cricket in India Deccan Chargers Cricket Indian Premier League, 2013
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