New Delhi, Oct 12: The debt-ridden Deccan Chargers have been terminated from the Indian Premier League (IPL). The franchise was told by the Bombay High Court to furnish a bank guarantee of Rs 100-crore by 1700 hours today but it has failed to do so, leaving the court with no choice but to uphold the Indian cricket board’s (BCCI) termination.
Earlier in the day, there were rumours that Mumbai-based real estate company Kamla Landmarc has bought Chargers for an undisclosed amount.
In a letter directed to the National Stock Exchange and Bombay Stock Exchange, Chargers said: ‘This is to inform you that pursuant to its Meeting of the Board of Directors held on October 11, 2012, it was resolved to authorize the Board of Directors to sell, transfer/dispose off the Deccan Chargers Franchise business undertakings/business division of the Company to Kamla Landmarc Real Estate Holdings Private Limited.’
Chargers were led last season by Kumar Sangakkara and coached by the former Australia batsman Darren Lehmann. The other notable overseas players include Dale Steyn, Cameron White and JP Duminy. (PTI)
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