ISRO's decision to pull out of mission
The Ken quoted a source as saying: "ISRO has cancelled the contract for a lack of compliances and payment issues, Rahul [Narayan, co-founder TeamIndus] has spoken to all on the floor recently and informed all of ISRO's decision of pulling out of the mission".
What exactly is the Google Lunar XPRIZE?
Google Lunar XPRIZE space competition offers $20mn to the winner and $5mn each for the runner-up and bonus winner.
Out of 33 teams, only five now remain in the competition: India's TeamIndus, Japan's Hakuto, Israel's SpaceIL, the US's Moon Express, and Synergy Moon (international team).
Teams need to land a rover on Moon, travel 500m, and transmit those images to Earth by 31 Mar'18.
GLXP is all about smart technology but most importantly, money
For GLXP, teams should land a privately-funded Moon rover which requires a lot of money.
TeamIndus's mission budget was $70mn; ISRO's PSLV chartered launch itself costs $20mn.
Building and testing the rover cost many more millions. The start-up raised only $35mn. Also, teams can't raise more than 10% funds from governments or space-exploration agencies.
ISRO sources reportedly said TeamIndus couldn't gather required funds.
ISRO-TeamIndus contract terminated: End of India's private Moonshot mission?