Deccan gets court relief till Monday

DCHL has deposited player salaries with the BCCI instead of giving it directly to the players themselves.



New Delhi: Beleaguered IPL franchise Deccan Chargers has deposited players’ salary with the BCCI, but the concerned bank has apparently told the Board that it would not be encashed.

In a related development, the Bombay High Court on Monday directed the BCCI to maintain status quo on Deccan Chargers and not to float tender for a new IPL franchise till Monday, when the court will again hear the case.

Justice SJ Kathawalla granted franchise owners Deccan Chronicle Holdings Limited (DCHL) a week’s relief after their counsels sought time to read the bulky affidavit that the BCCI submitted with the court.

ALSO READ:


After terminating Deccan Chargers’ deal for “breach of contractual obligations”, the BCCI marketing committee decided to float tender inviting bids for a new team, but did not announce it formally after the DCHL moved the Bombay High Court on Saturday morning.

DCHL, which has borrowed over Rs 4,000 crore loan from various lenders, told the court that BCCI’s decision to terminate Chargers was “illegal and bad in law”. It sought a stay on the franchise’s termination on the grounds that BCCI was already planning to invite tenders for a franchise from Hyderabad.

BCCI filed a counter-affidavit with the court on Monday.

It also said that it was trying to help DCHL in its troubled times, pointing out that it helped the company float a tender to invite bids for Deccan’s sale.

But DCHL on September 13 rejected the lone bid, received from the Hyderabad-based PVP Venture Capitals as it said that it did not agree to the terms and conditions offered. The bid was worth Rs 900 crore.

Meanwhile, DCHL has, interestingly, deposited player salaries with the BCCI instead of giving it directly to the players themselves.

“DCHL has deposited a cheque of players’ fees with the Board. It’s quite interesting that they gave it to the Board and not to the players. More interestingly, the concerned bank has now advised the BCCI not to deposit the cheque with it because it won’t be encashed,” a BCCI source told MAIL TODAY. “The bank, one of many from whom DCHL has borrowed money, said so because it obviously is keen to recover the money it has lent to the company,” he said.

The players’ fees is said to be between Rs 30 crore and Rs 35 crore.

The source said that the concerned bank is one of many entities — private and public banks, non-banking firms, and other lenders — from which DCHL has borrowed huge sums of money.

The BCCI, meanwhile, could float the tender for the IPL title sponsorship. “The five- year deal with DLF has ended and they have decided against renewing it. So, we will now float a tender to invite bids for the title sponsor,” said the source.

In 2008, DLF signed the five-year title sponsorship deal worth $50 million.

“Some interested parties have already approached the BCCI regarding the title sponsorship. Amongst them is a leading mobile service provider, a well-known car manufacturer and a leading car maker,” he said.

Matches

MORE TOP STORIES TODAY

Mumbai Indians vs Kolkata Knight Riders

Mumbai Indians vs Kolkata Knight Riders

Abu Dhabi: Kallis and Pandey's half-centuries help Kolkata set Mumbai 164-run target. More »

Pietersen to miss Delhi's first game

Pietersen to miss Delhi's first game

The former England batsman will have to lead the franchise as he is out of the match against Bangalore with a finger injury. More »

Srinivasan named in fixing report: SC

Srinivasan named in fixing report: SC

The court emphasised that the tainted administrator can no longer work for the BCCI. More »

'If you do the wrong thing it will be found out'

'If you do the wrong thing it will be found out'

'Everyone knows what is right and what is wrong and if you do the wrong thing it will be found out' More »

Why I'm not looking forward to the IPL

Why I'm not looking forward to the IPL

Welcome to another season of a league that many watch but few trust. More »

Mitchell Johnson may quit T20s for Test cricket

Mitchell Johnson may quit T20s for Test cricket

Australia's Mitchell Johnson may quit limited-overs cricket to prolong his test career with an eye on the 2015 Ashes series in England, the fast bowler… More »

There's a lot going on: Fleming

There's a lot going on: Fleming

He experienced anxious moments in the lead-up to the tournament as the courts decided on whether to suspend the franchise, he said, but stressed that the… More »

Latif couldn’t work with tainted players

Latif couldn’t work with tainted players

Former Pakistan cricket captain Rashid Latif said Tuesday he turned down the job of national chief selector because he could not work with ex-players tainted… More »

We are not over-confident: Bailey

We are not over-confident: Bailey

Indian Premier League — George Bailey-led Kings XI Punjab will face Chennai Super Kings on Friday. More »

Big runs expected, with bat and ball

Big runs expected, with bat and ball

Royal Challengers Bangalore: Their main concern, once again, is the fast bowling More »

Taxing issue — BCCI hits roadblock

Taxing issue — BCCI hits roadblock

MoU between BCCI & its units to avoid double taxation delayed after a few decline to share details. More »

Black Caps pick rookie duo for West Indies

Black Caps pick rookie duo for West Indies

New Zealand selectors included two new caps in a 15-man Test squad named Tuesday to tour the West Indies, with injury-hit spinner Dan Vettori's future… More »

The stage is set for IPL-7 to start

The stage is set for IPL-7 to start

The Preview — Defending champions Mumbai Indians take on Kolkata Knight Riders More »

Srinivasan appeals to court to allow BCCI comeback

Srinivasan appeals to court to allow BCCI comeback

He was aggrieved by the allegations against him during the hearing. More »

India: cricket's Brazil

India: cricket's Brazil

They are tough to beat with a big talent base exposed to good facilities. (CYCSPL) More »

Delhi Daredevils say no to gifts

Delhi Daredevils say no to gifts

Franchises are doing their bit to refurbish the image of the tainted league. More »

Klinger on his exit from South Australia

Klinger on his exit from South Australia

Michael Klinger has revealed he felt compelled to leave South Australia after being told he would be only a fringe part of the Redbacks' plans for next season, and disputed the suggestion that he left… More »

India-Pakistan Test series likely in 2015

India-Pakistan Test series likely in 2015

The revival of Indo-Pak Test ties could take place in UAE. More »

Kohli hopes to end RCB trophy drought

Kohli hopes to end RCB trophy drought

'This time around we will hope to go few more steps ahead and actually get that trophy' More »

Gavaskar can help IPL regain glory

Gavaskar can help IPL regain glory

Apart from the foreign players a lot of behind-the-scene activity has taken place in selecting the Indian domestic players. More »

Tendulkar, Ganguly to promote soccer

Tendulkar, Ganguly to promote soccer

Leading Spanish club Atletico Madrid and former cricketers Sachin Tendulkar and Sourav Ganguly are among the owners of eight franchises of a new Indian… More »

This isn’t my first trip to India: Neesham

This isn’t my first trip to India: Neesham

Kiwi all-rounder wants to utilise the India leg to explore the country’s tourist attractions. More »

Ishant wanted to quit ODIs

Ishant wanted to quit ODIs

Says his mother made him change his mind. More »

Supreme Court says no to BCCI’s request

Supreme Court says no to BCCI’s request

Bench refuses to grant access to recordings of Srini and Dhoni’s depositions before Mudgal committee. More »