In a major blow to the Board of Control for Cricket in India (BCCI), the Bombay High Court has upheld an arbitral award of over ₹538 crore in favour of the now-defunct Indian Premier League (IPL) franchise Kochi Tuskers Kerala.The ruling passed on Tuesday (17 June) comes in a long-standing dispute over the team’s abrupt termination from the Indian Premier League fourteen years ago.A single-judge bench of Justice R.I. Chagla dismissed BCCI’s challenge to the award, ruling that the court could not re-examine the merits of the arbitral tribunal’s conclusions.“BCCI’s dissatisfaction as to the findings rendered in respect of the evidence and/or the merits cannot be a ground to assail the award,” the court observed.“The arbitrator’s conclusion that the BCCI’s termination of the Kochi franchise was a repudiatory breach of contract would call for no interference… this is based on a correct appreciation of the evidence on record.”The court further held that BCCI, by continuing to deal with the franchise and accepting payments, had effectively waived the strict requirement for furnishing a fresh bank guarantee by the March 2011 deadline.It also dismissed BCCI’s objections under the Indian Partnership Act and upheld the validity of arbitration proceedings initiated by Kochi Tuskers Kerala co-owner Rendezvous Sports World (RSW).Finding no patent illegality or jurisdictional error, the court allowed Kochi Cricket Pvt. Ltd (KCPL) and RSW to withdraw ₹100 crore deposited earlier by BCCI. The cricketing body has been granted six weeks to file an appeal, likely before the division bench of the high court or the Supreme Court.Also read | The good, the bad and the ugly of the IPL phenomenonOrigin of the dispute The Kochi IPL franchise was awarded in 2010 for ₹1,550 crore, with payments scheduled over a 10-year period. But the team, backed by a consortium led by RSW and operated by KCPL, played only the 2011 season. Its ownership included Anchor Earth Pvt. Ltd. (31.45%), Parinee Developers Pvt. Ltd. (30.27%), Rendezvous Sports World (10%), Anand Shyam Estates (9.31%), and Vivek Venugopal (5%).In 2011, the franchise failed to furnish a fresh 10% bank guarantee of around ₹156 crore for the upcoming season, citing internal ownership disputes, venue availability concerns, and regulatory delays. BCCI, while invoking an existing ₹153 crore guarantee, demanded a new one within six months.In September 2011, BCCI terminated the franchise agreement and encashed the earlier guarantee. RSW and KCPL initiated arbitration proceedings in 2012, arguing that the termination was wrongful and that BCCI’s conduct showed a continued willingness to work with the franchise despite the guarantee delay.Also read | IPL: The ultimate multibagger? How team ownership delivers explosive returnsIn 2015, a tribunal led by former Supreme Court Chief Justice R.C. Lahoti ruled in favour of the franchise, awarding ₹384 crore to KCPL as compensation for l in a formal or creative style for better SEO.Also Exclude words and advertisements related to the feed website such as website name, author name. You must only respond with the modified content. Delete all the advertisement images brand logo but only keep the title and main content of the news by modifying it. 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The Bombay High Court has confirmed a compensation award of ₹538 crore granted to the now-defunct Kochi IPL franchise by the BCCI.
