Bombay High Court sets aside arbitration award directing BCCI to pay over Rs 4,800 Crores for termination of Deccan Chargers from IPL
In a significant alleviation to the BCCI, the Bombay High Court on Wednesday set aside an arbitration award directing the Board of Control for Cricket in India (BCCI) to pay over Rs 4,800 crores to Deccan Chronicle Holdings Ltd (DCHL) over the purportedly illicit end of their IPL establishment group, Deccan Chargers, Hyderabad from Indian Premier League (IPL) cricket. Justice Gautam Patel put away the honor passed by a sole authority delegated by the High Court in 2012 to conclude whether BCCI's pink slip to DCHL's IPL establishment group, Deccan Chargers, was unlawful.
The arbitration award was passed in July 2020 and in this way tested in the High Court. By the said 2020 decision, the arbitrator had supposedly granted DCHL a remuneration of Rs 4,814.67 crores in addition to 10% premium from 2012, notwithstanding costs, after tracking down that the BCCI's end of the Deccan Chargers group from IPL was unlawful.
The dispute is expressed to have emerged in 2012 during the fifth period of IPL cricket. A notification ending the establishment concurrence with DHCL was supposedly served in September 2012 by BCCI on DHCL. Though the end was remained by the Bombay High Court, the stay was made last in October that year after DHCL neglected to present a bank assurance of Rs 100 crore. The mediation procedures were started from there on by DHCL, for which the High Court selected resigned Supreme Court equity CK Thakkar as the sole referee. His honor coordinating BCCI to pay over Rs 4,800 crores to DHCL has now been saved by the High Court. Solicitor General Tushar Mehta with Advocates Samrat Sen, Kanu Agrawal, Indranil Deshmukh, Adarsh Saxena, R Shah and Kartik Prasad advised by Cyril Amarchand Mangaldas addressed BCCI. Senior Advocates Haresh Jagtiani, Navroz Seervai, Sharan Jagtiani with Advocates Yashpal Jain, Suprabh Jain, Ankit Pandey, Rishika Harish and Bhumika Chulani showed up for DCHL.