The Supreme Court on Friday dismissed the plea of the cash-strapped Indian Premier League (IPL) team Deccan Chargers to extend the time of paying the bank guarantee of Rs 100 crore to the Board of Control for Cricket in India (BCCI).
"The Hon'ble Supreme Court has dismissed the SLP filed by DCHL against the order of 18 October 2012 given by the Hon'ble Bombay High Court which set aside the status quo order of the Learned Arbitrator," said BCCI Secretary Sanjay Jagdale in a statement
Hence the termination of Deccan Chargers remains undisturbed," he said.
Jagdale said: "The BCCI wishes to clarify that all players dues for the last season have been met in respect of players who represented Deccan Chargers in IPL 2012
Deccan Chargers owner Deccan Chronicle Holdings Ltd. (DCHL) could not meet the Bombay High Court´s condition of paying the bank guarantee of Rs 100 crore within the deadline of 5 pm on Oct 12.
The team lost its place in the cash rich IPL on Oct 13.
The team had finished last in the inaugural IPL but won the next edition in South Africa in 2009.
The Chargers were second last in the most recent IPL tournament that ended in May.