Bank offers conditional backing to DC | Cricket - Hindustan Times
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Bank offers conditional backing to DC

Hindustan Times | By, Mumbai
Sep 26, 2012 12:27 AM IST

Yes Bank filed a plea on Tuesday offering conditional financial support to the beleagured Deccan Chargers, as the Bombay high court heard the petition filed by owners Deccan Chronicle Holdings Limited (DCHL) against the Indian cricket board's decision to terminate the beleagured IPL team.

Yes Bank filed a plea on Tuesday offering conditional financial support to the beleagured Deccan Chargers, as the Bombay High Court heard the petition filed by owners Deccan Chronicle Holdings Limited (DCHL) against the Indian cricket board's decision to terminate the beleagured IPL team.

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The bank laid down three conditions - the BCCI should withdraw the decision to terminate DC, the franchise should deposit all money received by it in its Yes Bank account and the board should also release the amount due to the IPL team.

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Justice Kathawalla has now posted the arbitration petition filed by DCHL for further hearing on Wednesday to allow the counsel of the team owners to respond to the Yes Bank plea.

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