Mumbai: The Bombay High Court today cancelled the stay order passed by the arbitrator in the BCCI-Deccan Chronicle Holdings Ltd. (DHCL) case today.

BCCI had moved to the court after retired Supreme Court judge C.K. Thakkar, appointed arbitrator by the High Court in the case, passed a stay order on the termination of DHCL’s IPL franchise Deccan Chargers.

In its judgement the High Court said that an arbitrator cannot overrule an order passed by the court.

“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,” said the BCCI official website.

The court had earlier asked DHCL to furnish a bank guarantee of Rs 100 crore, a condition set for Deccan Charger’s survival in IPL. But BCCI could not go on with the termination of the cash strapped IPL team as the arbitrator passed a status quo.

Seeking justice the cricket board moved to the court and challenged the status quo.

BCCI counsel Raju Subramaniam in BCCI’s argument in the case said that DHCL were given sufficient time to submit the guarantee and if Deccan Chargers contract was not terminated; several foreign playing for them will not be able to take part in the auction.

Meanwhile, DHCL maintained that they wanted to sell the team but BCCI stood against and also urged that termination on the grounds of outstanding liabilities will be too harsh and they should consider that.

By Indian Sports News Network