Deccan Chargers ask for more time to raise bank guarantee
The owners of the Deccan Chargers franchise, Deccan Chronicles Holdings Limited (DCHL), have asked for a three-day extension (till October 12) to raise Rs 100 crore as a bank guarantee, one of the conditions set by the Bombay High Court ruling of October 1 to avoid termination from the IPL. On Tuesday, the franchise’s owners also filed an application requesting permission to raise the guarantee from a privatised bank and not a nationalised one, as originally stipulated by the court.
Immediately after the BCCI had terminated the Chargers on September 14 for failing to “cure various…
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