More pressure for Deccan Chronicle?

The battered the Deccan Chornicle stock, which showed some kinds of stability in the last one month, may come under renewed pressure this week, as it lost its franchise battle. The Board of Control for Cricket in India has terminated the Deccan Chargers franchise from the Indian Premier League for failing to provide a bank guarantee. Earlier Deccan Chronicle Holdings Ltd, the team owner, announced that it had sold the franchise to Kamla Landmarc Real Estate Holdings Ltd. It did not disclose details of the sale. The deal hit a roadblock after Deccan Chronicle Holdings failed to meet the deadline to provide a Rs 100-crore bank guarantee to the BCCI, which consequently terminated the franchise. The Bombay High Court had declined to grant more time to Deccan Chronicle Holdings to provide the guarantee to the BCCI.