The fate of the IPL team, Deccan Chargers, is likely to be decided on Thursday when the Bombay High Court pronounces its verdict on an appeal filed by the BCCI challenging the status quo order passed by an arbitrator in its dispute with debt-ridden Deccan Chronicle Holdings Limited (DCHL), owners the IPL franchise from Hyderabad.
The arbitrator had last week passed the order directing the BCCI not to initiate any action on its decision to terminate the franchise agreement of DCHL.
The BCCI then approached the High Court challenging the arbitrator's decision, and acting on the BCCI’s plea, the court had on Saturday stayed the arbitrator's order, thus allowing the BCCI to take further action on the termination. Soon after, the BCCI issued tenders for IPL teams from various cities.
Justice RD Dhanuka on Wednesday heard both sides and reserved the order.