13 September 2012
Serial entrepreneur, Prasad V. Potluri and PVP Ventures was the sole bidder for Deccan Chargers franchise despite tall claims made by Videocon, RPG and JP Groups. The bid included two parts "Suitability" to be cleared by BCCI which was ratified by them. The financial bid totalling an amount of 900 Crores was offered by PVP Ventures was reviewed DC and it's bankers. In violation of the bid terms, DC wanted an amendment of the payment terms which PVP wasn't willing to comply as they have already fulfilled all the bid conditions. Despite BCCI clerance and being sole gutsy bidder at an attractive value, the bid was rejected !