Kochi Tuskers BCCI court case : Former IPL franchise Kochi tuskers, the world’s richest cricket board has suffered a major setback in the ongoing legal battle between Kerala and BCCI. The Bombay High Court has asked the BCCI to pay Rs 538 crore to Kochi tuskers. Mangalwal was rejected by Justice RI Chagla’s challenge of BCCI, stating that the court could not review the conclusions of the intermediary, which were based on the proper assessment of evidence.
Kochi tuskers were discontinued in 2011
The dispute began when the BCCI closed the franchise of Kochi tuskers due to failure to submit the necessary bank guarantee under the franchise agreement in 2011. The Kochi franchise denied the BCCI’s decision, it cited issues such as the availability of the stadium and the decrease in the number of IPL matches. The franchise said that despite constant talks and payments, the BCCI suddenly terminated the contract and redeemed the guarantee given earlier.
In this case in 2015, the Mediastical Tribunal gave the owner of the Kochi franchise Rs 384 crore to KCPL and Rs 153 crore to RSW. The BCCI challenged this amount. Now the Bombay High Court dismissed the objections of the BCCI under the Indian Partnership Act, and validated arbitration.
History of Kochi Tuskers
Kochi Tuskers was one of the two new franchises included in the IPL for the Kerala 2011 season. This team joined the IPL with Pune Warriors. The franchise of this team was owned by Kochi Cricket Private Limited, a consortium of many companies. Kochi Tuskers played in only one season, ie 2011, and the next year its franchise was abolished. The team was bought by the Randagewas Sports World for the second highest bid bid for 333.2 million US $ (Rs 1533 crore). But in a season, this team was removed from the IPL.
