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Court Orders BCCI to Pay INR 539 Crore Over Kochi Tuskers Kerala Termination Issue
Court Orders BCCI to Pay INR 539 Crore Over Kochi Tuskers Kerala Termination Issue
Kochi Tuskers Kerala competed in just one IPL season, in 2011, finishing eighth out of ten teams. The BCCI terminated the franchise in the same year for allegedly breaching contractual terms.
The Bombay High Court has ordered the BCCI to pay ₹385.5 crore to Kochi Cricket Private Limited and ₹153.34 crore to Rendezvous Sports World. This is because of the BCCI’s decision to terminate the Kochi Tuskers Kerala IPL team back in 2011.
The Kochi franchise only played one season in the IPL in 2011 and ended up 8th out of 10 teams. But later that year, the BCCI cancelled their contract, saying the team didn’t provide a bank guarantee in time. This led to a legal battle through arbitration.
In 2015, an arbitrator ruled that the BCCI had wrongly cancelled the deal and unfairly used the bank guarantee. The BCCI challenged this ruling, but on Tuesday, the Bombay High Court said the arbitrator’s decision was fair and should stand. The judge said the court’s power to overrule such decisions is very limited, and the BCCI’s arguments didn’t meet the legal requirements to change the outcome.
The court gave BCCI six weeks if it wants to file an appeal