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Bombay High Court stays Order of Arbitrator despite DCHL appeal
By IPL Desk
Mumbai 13 October 2012
The termination of Deccan Chargers franchise was challenged in the Hon’ble Bombay High Court by the DCHL pending the arbitration. A Conditional Order of stay was granted by the Hon’ble High Court pending arbitration on 1st October 2012. The condition to give BCCI a Bank Guarantee of a Nationalized Bank for ` 100 Crores by 5.00 p.m. on 12.10.2012 to cover expenses of IPL – 6, was breached by DCHL.
Notwithstanding the Hon’ble High Court’s refusal to extend time to DCHL, the Learned Arbitrator passed the Order of Status quo last evening (12.10.2012).
BCCI moved an appeal against the Order of Arbitrator and the same was heard today morning. The Hon’ble High Court was pleased to stay the Order of Arbitrator after hearing both the parties.
Thus, the termination of DC Franchise stands. SANJAY JAGDALE
It has been reported in some sections of the media that the Mumbai High Court has stayed the termination of the Deccan Chargers Franchise, announced by the BCCI yesterday evening.
The BCCI would like to clarify that the counsels of both sides were present in Court at 10:30 am on Saturday, 15 September 2012. The Court heard both parties, and did not pass any order staying the termination. The matter has been placed for hearing on Monday, 17 September 2012.
The information that the termination of the franchise has been stayed is incorrect.