Bombay HC upholds arbitration order, orders BCCI to pay Kochi Tuskers 538 crore

Bombay HC Orders BCCI to Pay Kochi Tuskers ₹538 Crore

The Bombay High Court has upheld the arbitration in favour of Kochi Tuskers Kerala, ordering the Board of Control for Cricket in India (BCCI) to pay the now-defunct franchise ₹538 crore.

The order was passed by Justice RI Chagla, who rejected the BCCI's plea challenging the arbitration award. The court stated that it cannot sit in appeal over the arbitrator's findings.

The Kochi Tuskers Kerala was part of the IPL in the 2011 season but was terminated by the BCCI in September 2011. The franchise was jointly owned by a consortium consisting of several companies.

The arbitration award was given in favour of the Kochi franchise on June 12, 2015. The BCCI has time up to six weeks to challenge the verdict in the Supreme Court.

Timeline of Events

• March 12, 2011: Franchise Agreement terminated
• 2010: Kochi franchise bought for USD 33 million
• 2011: Kochi franchise operated through Kochi Cricket Private Limited (KCPL)
• 2011: KCPL wrote to BCCI for reduction in franchise fees
• 2011: BCCI rejected KCPL's request for reduction in franchise fees
• 2011: KCPL asked BCCI for permission to play at Jawaharlal Nehru Stadium
• 2011: BCCI rejected KCPL's request for permission to play at Jawaharlal Nehru Stadium
• 2011: KCPL invoked arbitration for wrongful termination of franchise agreement
• 2015: Arbitration award given in favour of Kochi franchise
• 2015: BCCI challenged the arbitration award
• 2018: Bombay High Court granted unconditional stay of the KCPL Award
• 2018: KCPL challenged the stay before the Supreme Court
• 2018: Supreme Court modified the order, directing BCCI to deposit ₹100 crore in the High Court
• 2018: BCCI deposited ₹100 crore in the Bombay High Court