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Bcci arbitral award case: The Board of Control for Cricket in India (BCCI) has suffered a major setback from the Bombay High Court. The High Court has ruled in favor of the IPL banned franchise Kochi Tuskers and upheld the mediation decision of Rs 538 crore. Justice RI Chagla has dismissed the BCCI petition, resulting in the board to pay Rs 538 crore to the owners of the Kochi Tuskers franchise. Kochi Tuskers Kerala made her debut in the Indian Premier League in 2011, but the journey of this team in the IPL lasted only one year. Earlier this team was owned by Randevu Sports World (RSW), but later a company named Kochi Cricket Private Limited operated the team, but BCCI abolished the Kochi Tusker Kerala franchise, citing violations of the agreement.

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The main reason for abolishing the franchise was that the owners of the Kochi Tuskers team had to deposit the guarantee amount by 26 March 2011. It was told that the board waited for this guarantee for 6 months, but the BCCI did not get Rs 156 crore from the agreement. RSW and Kochi Tuskers Private Limited took the resort to mediation by going against the BCCI’s decision. The Tribunal Court ruled in 2015 that the BCCI incorrectly collected the guarantee amount, causing a loss of 153 crore to RSW and 384 crores to KCPL. The amount including interest and legal expenses was Rs 538 crore.

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Bombay High Court pronounced the verdict

While giving the verdict, the Bombay High Court said that the jurisdiction of this court is very limited under Section 34 of the Arbitration Act. The BCCI’s effort to investigate the dispute is beyond the basis of Section 34. The BCCI objections to the evidences revealed cannot be called the basis for challenging mediation.

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