Champions League Twenty20 to be Discontinued

The Governing Council of the Champions League Twenty20 (CLT20) has on Wednesday confirmed that the CLT20 competition will be discontinued with immediate effect. The Governing Council of the CLT20, comprising representatives of the Board of Control for Cricket in India (BCCI), Cricket South Africa (CSA) and Cricket Australia (CA) made the decision unanimously. (Chennai, Rajasthan Suspended by Lodha Panel)
As such the 2015 CLT20 scheduled for September and October will not go ahead as planned.
The competition was launched in 2009 by the BCCI with CA and CSA. The Governing Council determined that the discontinuation of the league was the most appropriate decision due to the tournament's limited public following. (What's Next for Suspended Chennai, Rajasthan?)

Taken from a ndtv sports article