Kochi handed suspension notice for defaulting on payment

Controversy-ridden IPL franchise Kochi Tuskers Kerala was slapped with a suspension notice for non-payment of bank guarantee by the BCCI at its Annual General Meeting on Monday.
The consortium, which was mired in a bitter ownership dispute after its very inception, defaulted on a Rs 156 crore annual payment it was to make as bank guarantee despite reported reminders from the IPL authorities.
According to BCCI sources, the franchise has been asked to make the payment within a stipulated timeframe failing which Kochi's participation in the IPL would be terminated.
The franchise, which was bought for Rs 1,550 crore, is supposed for more details....