Results 1 to 1 of 1
Thread: Deccan lose IPL licence
10-19-2012, 04:16 PM #1
Deccan lose IPL licence
The Deccan Chargers have had their Indian Premier League licence officially revoked.
The Chargers were terminated from the IPL after the Bombay High Court upheld BCCI's appeal against the court-appointed arbitrator's decision to suspend the franchise's termination.
The BCCI had suspended the Chargers last month over financial irregularities and the owner of the franchise, Deccan Chronicle Holding, moved court against the decision.
The Bombay HC had appointed retired supreme court judge CK Thakker as the arbitrator to settle the dispute over payment between the Indian board and the Chargers.
The HC had directed Chargers to furnish the 100 crore rupees bank guarantee within a time limit and warning them that the failure to do so would result in termination.
But Thakker suspended BCCI's decision upon which the board took the matter to the court, requesting the HC for a special hearing last Saturday.
The HC had ruled in favour of BCCI on Saturday and on Thursday, officially overruled the arbitrator's decision.
"Arbitrator had no jurisdiction to grant status quo. On the same day (October 12), the high court had denied extension of time to DCHL to furnish Rs 100 crore bank guarantee as directed by the court on October 1," Justice RD Dhanuka said.
Justice Dhanuka also noted that the order passed by another judge of the court on October 1 directing DCHL to furnish bank guarantee was 'self operative and protective of the interests of both DCHL and BCCI'.
"DCHL has still not furnished bank guarantee. Hence there is no change in circumstances to grant relief to DCHL. No case is made out for interim relief for granting stay on termination. The application seeking stay is a gross abuse of law," Justice Dhanuka said.
The court also observed the legality and validity of the termination would be a subject of matter before the arbitrator.