Mumbai: The Bombay High Court has ordered Deccan Chronicles Holding Limited (DCHL) to give a bank guarantee of Rs 100 crores to the Board of Control for Cricket in India, on Monday. DCHL will need to make the wire transfers by October 3 (Wednesday).
The court also issued a directive that DCHL will have to bear the cost of the team - Deccan Chargers - in the sixth season of the Indian Premier League. Any insolvency on the part of the franchise owners, according to the same set of decisions made, will lead to the termination of the side by BCCI.
BCCI's outstanding dues to DCHL on the other hand, amounting to Rs 15 crores, will have to be submitted to the court and the Board will float tenders for a tenth team at later date.