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HC tells DCHL to furnish bank guarantee of Rs 100 cr to BCCI

The Bombay High Court on Monday asked Deccan Chronicles Holdings Ltd to give an irrevocable and unconditional bank guarantee of Rs 100 crore to the BCCI on or before October 9 while observing that the Cricket Board has acted in haste to terminate IPL franchise Deccan Chargers.

Deccan Chargers remain unsold in auction

Cash strapped IPL team Deccan Chargers’ attempt to find buyers via auction failed on Thursday as PVP Group’s bid was rejected outright at the auction held in Chennai.