BCCI confirms termination of Deccan Chargers from IPL - NewsX

The twists and turns over the termination of cash-strapped Deccan Chargers seems to have finally come to an end. The BCCI today confirmed the termination of the IPL Franchise Deccan chargers from the Indian Premier League. In a statement BCCI said that the Bombay High Court after hearing both the parties, stayed the order of the arbitrator, which effectively means that the termination of Deccan charger stands. The arbitrator had ordered for status quo despite Deccan Chargers failing to abide by the time stipulated by the High Court in providing a bank guarantee of Rs. 100 crore. The termination order comes as a severe blow to the team promoter Deccan Chronicle Holdings Ltd, which announced on Friday that they got a buyer in Kamla Landmarc for the franchisee.For more log on to http://newsx.com