In a new twist in the ongoing case between the Board of Control for Cricket in India (BCCI) and Deccan Chronicles Holdings Ltd (DCHL), the promoter of Deccan Chargers, the Hyderabad franchise of the Indian Premier League (IPL), Yes Bank today sought itself to be a party to the arbitration process.
On Monday, the Bombay High Court had suggested the BCCI and DCHL to resolve the dispute through arbitration over former terminating the contract of Deccan Chargers. The case was originally meant to be between BCCI and DCHL, but with Yes Bank, which is one of the creditors of the Hyderabad franchise, joining in, DCHL sought more time to present their case afresh tomorrow. The hearing will commence again on Wednesday morning.
Yes Bank has also pleaded to the court that the BCCI should credit all the receivables due to Deccan Chargers in Yes Banks account.
The case is being heard by Justice SJ Kathawalla after DCHL moved court challenging the termination of Deccan Chargers.
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