The BCCI has won the appeal against the arbitration award in favor of the Deccan Chargers team of the IPL. The case is regarding BCCI’s decision of terminating the franchise agreement with Deccan Chargers Holding Ltd in September 2012, which was challenged by the Deccan Chargers team in the Bombay High Court.
The High Court has appointed retired justice CK Thakkar as the sole arbitrator in the case. Last July, the arbitrator was awarded 4800 crores in favor of the now-defunct IPL team. “It is a major relief for the BCCI. The Arbitration Award was very huge, close to Rs 5000 crore. We are thankful to the honorable court,” said a BCCI office-bearer. While Raju Subramaniam, the BCCI counsel who had represented the BCCI in the arbitration case said that the verdict clears the BCCI’s stand.
“The Arbitration Award was unsustainable. The franchise had not performed its duties and sought compensation. The award could not have been sustained,” the BCCI counsel said. On Wednesday, the single bench of the Bombay High Court headed by Justice Gautam Patel set aside the CK Thakkar’s award & stated that 4814 crore compensation is illegal. BCCI’s stand was represented by the Solicitor General of India, Tushar Mehta among others. Advocates Samrat Sen, Kanu Agrawal, Indranil Deshmukh, Adarsh Saxena, R Shah, and Kartik Prasad were other advocates of the BCCI.
The dispute arose when the BCCI headed by N Srinivasan, terminated the Deccan Chargers’ contract of five years into their 10 years franchise agreement & awarded the Hyderabad-based franchise to Sun TV. The Deccan Chargers challenged the termination of the contract. Since the franchise reins were headed to Sun TV, the name of the team has been changed to Sunrisers Hyderabad.
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