The Supreme Court has dismissed Deccan Chargers' plea for extending the time to pay the bank guarantee of 100 crore to Board of Control for Cricket in India (BCCI) on Friday.
The time limit of October 12 set out by the Bombay High court was not fulfilled by the Deccan chargers and the Supreme Court's ruling now means BCCI can go ahead with Deccan's termination. This after, BCCI had already floating tenders.
Counsel Mukul Rohtagi, who appeared for the Deccan Chargers Holding Limited (DCHL), told the apex court that if they were not given extension of time for furnishing the bank guarantee, then they would lose everything.
Opposing the plea by the DCHL, senior counsel C.A. Sundram told the court that the petitioner DCHL had not paid to the cricketing body, the supplier and now they are levelling charges. Sundram told the court that BCCI has terminated the lease of Deccan Chargers and any extension for furnishing the bank guarantee would amount to resurrecting the terminated lease.
The Deccan Chargers had lost its place in the Indian Premier League (IPL) on October 13 after the high court stayed the arbitrator's order for maintaining status quo in the matter till further hearing, while BCCI declared that the termination of the IPL franchise stands following the court's order.
Deccan had appealed in the Supreme Court earlier on Friday saying that it would pay the guarantee but needed more time. The Indian Board however had contested that it did not want to have 'any relationship with DCHL.' (Also read: Deccan Chargers' timeline)
In a release after the apex court's decision, BCCI said '(it) wishes to clarify that all players dues for the last season have been met in respect of players who represented Deccan Chargers in IPL 2012.'
With inputs from IANS