In a major development, the Bombay High Court has ordered the Board of Control for Cricket in India (BCCI) to pay ₹538 crore (approximately $64 million) to the now-defunct IPL franchise Kochi Tuskers Kerala.
Key Point:
- Kochi Tuskers Kerala Won the Case Against BCCI.
- Bombay High Court Orders BCCI to Pay ₹538 Crore.
- Franchise Terminated After Just One IPL Season.
The franchise was terminated by the BCCI back in 2011 after playing just one season in the Indian Premier League (IPL). The reason cited was their failure to submit the required bank guarantee on time, which led to accusations of a breach of contract. However, the Bombay High Court has now upheld the arbitration ruling in favor of the franchise and directed BCCI to make the payment.
Bombay High Court Statement:
The court stated, “Under Section 34 of the Arbitration Act, the jurisdiction of this court is very limited. BCCI’s attempt to re-examine the merits of the dispute falls outside the permissible grounds under Section 34. Dissatisfaction with the evidence or conclusions drawn by the arbitrator cannot be a valid reason to challenge the award.”
Frenchise Starting Journey:
The Kochi franchise had originally bought the team in 2010 for ₹1,550 crore (around $290 million). But after missing annual payments, their contract was terminated. In their only IPL season, Kochi Tuskers Kerala played 14 matches, won 6, and finished 8th out of 10 teams.
IPL’s Chairman Statement:
IPL Chairman Rajeev Shukla told PTI after a Governing Council meeting, “We have received Justice Lahoti’s arbitration report. Most members are in favor of appealing against it. We are seeking legal advice.”
