The Indian Cricket Board (BCCI) today terminated Rajasthan Royals and Kings XI Punjab from the Indian Premier League on alleged breach of franchise agreement by them. The Board also issued notice to the newly-inducted Kochi team to resolve all their internal disputes within 10 days. The Board took the decision unanimously after obtaining legal opinion in the matter. There were reports of financial irregularities in the two franchises although they had denied any wrong doing.The shake-up means that the three year old IPL tournament will now be reduced to eight teams for its fourth edition in April-May next year. Before that, the fate of the newest franchisee Kochi would also be known.One of the co-owners of the Rajasthan franchise Raj Kundra said that the termination of the contract by BCCI is shocking and they are thinking of a legal action. Strongly reacting to the decision, Vijay Mallya, the owner of Royal Challengers, Bangalore also slammed the decision.