The Bombay High Court on Wednesday squashed a plea placed before it by the owners of IPL franchise Kochi Tuskers Kerala against the BCCI to prevent the latter from encashing their bank guarantee.

The BCCI on Monday had terminated the contract of the IPL franchise for non-payment of an annual bank guarantee of Rs.156 crore, thus abruptly ending the controversial Kerala team's association with the cash-rich league after just one year.