The sale to Mumbai-based Kamla Landmarc notwithstanding, the Deccan Chargers have been terminated from the IPL by the BCCI. This after the owners failed to provide a Rs.100 crore bank guarantee by 5 P.M on Friday, a deadline issued by the Bombay High Court for the team's survival in the Indian Premier League.
Earlier, the owners- Deccan Chargers Holdings Limited had announced that they had sold the team to a Mumbai-based real estate company, Kamla Landmarc. This was revealed in a letter that they had sent to the National Stock Exchange of India Limited and Bombay Stock Exchange Limited.
The BCCI had terminated the Deccan Chargers' licence last month for failure to comply with a deadline for overdue player fees, which the Hyderabad-based former IPL franchise had challenged.
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