New Delhi: The Deccan Chronicle Holdings Limited may have sold their IPL franchise Deccan Chargers to a Mumbai-based real estate company, Kamla Landmarc, but the trouble is not over yet. The Bombay High Court has now put down a condition for the sale to go ahead.
The Hyderabad franchise needs to pay up Rs 100 crore bank guarantee to the BCCI by 5pm today, failing which the team will be terminated. According to sources, no bank has so far came forward to pay the guarantee.
On Friday morning, the owners decided to sell the Chargers after a meeting of the Board of Directors. The new owners, Kamla Landmarc, a reputed real estate company in Mumbai, is said to have agreed to a deal of nearly Rs 1000 crore.