BCCI vs Kochi Tuskers Kerala : BCCI played big push in the Bombay High Court. The board will have to pay 5 crore to Kochi Taskers Kerala, the IPL’s extinct team. Bombay High Court Justice RI Goat dismissed the board’s challenge against the old arbitration verdict.
The incident started in the 21st. The board broke the agreement with Kochi Taskers Kerala. Those who were first owned by Randevue Sports (RSW) and later in the hands of Kochi Cricket Private Limited (KCPL). According to the board, the owners of the coach could not provide the bank security that had to be provided in March of that year to play in the IPL. However, the franchise states that they could not deposit the bank security money on time due to stadium issues, share affairs permission and IPL match.
The BCCI still kept in regular contact with Kochi Taskers. But suddenly, the contract lifted the previous money and raised the previous money. Against the board’s decision, both KCPL and RSW, both applied for special arbitration. They won in the 21st. And in that arbitration, the verdict came that RSW should be paid 1 crore and KCPL to 1 crore. That is, more than 1 crore taka.
This is the BCCI challenging the decision that it is a bank security agreement. They further said that this compensation is actually more than the contract of the agreement. Moreover, the arbitration that RSW is talking about is illegal in the Indian Partnership Act. However, the Bombay High Court observes that the BCCI’s attempt to investigate the main issues of this problem is already in section 4 of the law. The evidence of the BCCI objection is not acceptable in this case. And the judgment of the old arbitration has been maintained.
