Bombay HC orders BCCI to pay ₹538 crore to Kochi Tuskers Kerala

The Board of Control for Cricket in India (BCCI) has been ordered by the Bombay High Court to pay the now defunct IPL franchise Kochi Tuskers Kerala ₹538 crore.

Facing a major setback for the cricket board, this move comes after the Court rejected BCCI's plea challenging an arbitration award and closing the IPL franchise legal dispute that went on for more than a decade.

Also Read | 'Careers of 7 players were...': Yograj Singh attacks India's former selectors for mishandling senior players under MS Dhoni's captaincy

Single-judge Justice RI Chagla rejected the board's challenge to the award and said that the Court cannot sit in appeal over the arbitrator’s findings.

However, it is not clear whether BCCI will challenge the Bombay HC decision in the Supreme Court.

The dispute dates back to 2011 when the board terminated the Kochi Tuskers franchise due to their failure to provide a 10 per cent bank guarantee within the stipulated time.

Also Read | Shubman Gill on Rohit Sharma's leadership: 'Even if he is swearing at you, you wouldn't take it to heart' | England vs India Test series

Kochi Tuskers Kerala, the now-defunct IPL franchise, was led by Rendezvous Sports World (RSW) and later operated by Kochi Cricket Private Limited (KCPL). BCCI has been directed to pay ₹385.50 crore to KCPL and ₹153.34 crore to RSW.

The delay in providing the bank guarantee was attributed to the reduction in IPL matches, approvals in shareholding and stadium availability. It was reported that BCCI continued to engage with KCPL for several months and accepted payments. Later, the board abruptly terminated the franchise and encashed a prior guarantee issued by RSW.

Also Read | From ridicule to redemption: Temba Bavuma and South Africa bury the ghosts of the past with WTC glory

Sports