The Supreme Court has not favored the Deccan Chronicle's petition which sought a stay on their termination after their IPL team Deccan Chargers couldn't meet the financial requirements.

The apex court declared that the team would remain for sale on the auction as scheduled earlier by the BCCI.

Earlier the Bombay High Court has ordered that the team be terminated upon which the Deccan Chargers have moved to the apex court for seeking a stay on their termination.

The status quo order which was passed by a retired judge of the Supreme Court, who was an arbitrator was quashed by the Bombay High Court saying that the arbitrator was not in the jurisdiction to pass the order. It also lashed out at the arbitrator saying that it was abuse of judicial power.

(AW- Anil)