No relief for Deccan from Mumbai HC: BCCI

"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 Board said in a statement.

"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," it added.

"The information that the termination of the franchise has been stayed is incorrect."

In a late night development yesterday, the BCCI terminated the Deccan Chargers contract, ending the suspense on the fate of the beleaguered franchise. The decision was taken at an emergency Governing Council meeting of the IPL in Chennai.

"BCCI was compelled to hold an emergency meeting of the IPL Governing Council late Friday evening to discuss certain developments due to the Deccan Chargers' defaults," Board secretary Sanjay Jagdale said in a press release.

BCCI had yesterday received a lawyers notice invoking arbitration from the franchise stating that it had not committed any breaches and even if such breaches were committed, the Board should not terminate the franchise till Yes Bank Ltd furnishes sufficient finance to cure the breaches.

Jagdale said the BCCI made every effort to save the beleaguered franchise which also rejected the sole bid that was received at the auction.

Jagdale said the Governing Council took note of the sudden change of stance by the franchise and also the fact that any further extension of time would seriously jeopardies the interests of the players.