Deccan Chargers sold to Kamla Landmarc

The IPL franchise, Deccan Chargers team owned by the Deccan Chronicle Holdings Limited has been sold to Mumbai , based real estate company, Kamla Landmarc after meeting of the boards on Thursday.

As per reports, the move came even as Deccan Chargers is facing a deadline till 5 pm today to pay Rs 100 crore as bank guarantee to the Board of Control for Cricket in India (BCCI) towards the expenses for IPL series 6 next year.

Deccan Chargers risks losing the IPL franchise if it fails to pay guarantee on time. DCHL owners have written to National Stock Exchange of India Limited and Bombay Stock Exchange Limited informing about the passed proposal.