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    PVP bid for Deccan rejected: sources

    Chennai: CNN-IBN has learnt that lone bidder PVP Films' bid of Rs 915 crore for the ownership of Deccan Chargers has been rejected by the current owners. Apparently, they have acted on the suggestions of the banks which have loaned huge money to the Hyderabad-based team.

    Earlier in the day, PVP Films turned out to be the only bidder. It had been reported that Indian electronics company Videocon was also in the fray.

    After struggling on the field for two seasons, Deccan have been blighted by management woes after it was revealed that several players had not been paid their salary dues due to the financial trouble of the franchise’s present owners, the media company Deccan Chronicle Holdings (DCH).

    With the latest development, the BCCI has now been forced to take a decision at its Working Committee meeting here on September 15.