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Videocon to buy Deccan Chargers

Chennai, Sep 7 () : The Deccan Chronicle Holdings (DCHL)- possessed Deccan Chargers, the IPL team has lastly discovered a prospective customer in Videocon the $4 billion dollar organization.

DCHL which has debts of Rs 3200 crore from its many companies and experiencing bankruptcy case has promised the earnings from IPL team to two personal financial institutions and a supporter organization. After it advised BCCI that it was not in a place to take aspect in the arriving IPL period, it was permitted to float a tender. Apart from loans, international gamers who took aspect in the IPL 5 in Southern African-American companies for Deccan Chargers have not been compensated.

BCCI then met and created the decision to put the product on a public auction. DCHL tried to hive off the product which it purchased in 2008 for Rs 588 crores and was anticipating nearly Rs 1200 crores. Though many indicated attention, none came ahead because of its obligations to financial institutions.

BCCI and DCHL released advertisements on attractive offers for the public auction to be performed in Chennai on September 13. If DCHL does a problem purchase, then it would impact other franchise too and hit the money wealthy IPL.

Reviews say Videocon proprietor Dhoot would put as much as Rs 800 crores for purchasing it out which indicates 60% less than predicted cost but if this comes real, then BCCI will be relieved. The quoted cost for the Deccan Chargers product was Rs 650 crores.

In 2010 bid for new groups, Videocon tried to buy the Pune series but was defeated by the Sahara Group. Videocon produces devices like mobiles, TV, equipment, small trend range inverters and DTH solutions. It usually spends Rs 200 crore towards product development every season. If Videocon gets Deccan Chargers, it will add to their product developing funds.

One clause in the tender says Deccan Chargers will be centered in Hyderabad after it is marketed but whether Videocon would like to function from a southern state has to be seen. Videocon wants to move to Ahmedabad, if BCCI allows.