Mumbai: The IPL franchise Kochi Tuskers Kerala is yet again in news. The Board of Control for Cricket in India (BCCI) has banned the franchise from the Indian Premier League for non-payment of bank guarantee.
The decision was taken at the Board’s Annual General Meeting, in Mumbai, on Monday.
As per the IPL authorities all IPL franchise are required to renew their bank guarantee every year but Kochi franchise has not renewed its bank guarantee of Rs156 crore.
According to BCCI, the Kochi franchise was asked to make the payment within a stipulated timeframe failing which Kochi’s participation in the IPL would be terminated.