Justice R D Dhanuka of Bombay HC will decide on Thursday a BCCI appeal against a status quo order passed in its ongoing dispute with IPL team Deccan Chargers.
Retired Supreme Court judge C K Thakkar,arbitrator in the case,had passed the order last Friday after Deccan Chargers failed to furnish a bank guarantee of Rs 100 crore. However,HC stayed the order on Saturday,paving the way for termination of the IPL franchisee.
BCCI counsel Raju Subramaniam contended Deccan Chronicle Holdings Limited (DCHL),owner of Deccan Chargers,was given sufficient time to furnish the bank guarantee. He told HC several international players would not be able to participate in auctions for other teams if the contract with DCHL was not terminated. S U Kamdar,appearing for DCHL,countered that the company wanted to sell the team but BCCI objected.
Ratnakar Bank,one of 22 that have lent about Rs 4,200 crore to the franchisee,also said BCCI should give DCHL more time to furnish bank guarantee.