BCCI told the Bench of Chief Justice Dalveer Bhandari and Justice D Y Chandrachud that its tender with Zee Telefilms was :not concluded" as the draft intent letter sent by it to Zee Telefilms was not accepted by the latter and negotiations were still continuing between the two parties.
The BCCI also said that it requires at least 15-20 days to make arrangement for telecast production and to sign the advertisers. The Cricket Board also indicated that they may go for two new bids, one involving the next three cricket series between October 2004 to April 2005 and the other for the next four years. It added that in view of the upcoming series between India and Australia begining October six, they will "cancel the tender and produce on its own or otherwise." The ESPN-Star Sports withdrew its petition after BCCI told the court about its decision to cancel the tender. It said that as BCCI has cancelled the tender, there was noground for petition to survive.
It also asked the court to record that the legal row over telecast rights has not been adjudicated and that BCCI had accepted an initial surety amount of 20 million U S Dollars from it. Zee Telefilms vehemently argued that they were ready to produce the upcoming series and said BCCI's contention that Australia may cancel its tour was groundless.