The Kochi Tuskers Kerala IPL franchise has been terminated by the BCCI for breaching its terms of agreement, the new board president N Srinivasan has said after the annual general meeting in Mumbai. The trigger for the decision was the franchise's inability to furnish a new bank guarantee for 2011. It is understood that the deadline for Kochi to submit the bank guarantee was March 26, 2011. So the BCCI felt it had every right to terminate the contract once the franchise had failed to produce it.
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