The Bombay High Court has quashed the arbitrator's order for maintaining status quo on BCCI's decision to terminate the IPL franchise Deccan Chargers. The Board of Control for Cricket in India had earlier decided to terminate the franchise after the cash strapped Deccan Chargers from Hyderabad had failed to submit an irrevocable and unconditional bank guarantee of 100 crore rupees to BCCI before the deadline.

The arbitrator retired Supreme Court judge CK Thakkar had passed an order directing BCCI not to initiate any action on its decision to terminate the franchise. He was appointed by the High Court in September this year.

The Governing Council of the Indian Premier League met in Mumbai yesterday to discuss the future of the players of the Deccan Chargers Franchise.