Bombay HC orders BCCI to pay ₹538 crore to defunct Kochi Tuskers
Written By: Danish
Bombay HC dismisses BCCI's appeal, orders payment of ₹538 crore to defunct IPL team Kochi Tuskers Kerala for wrongful termination in 2012.
Verdict
Conflict began when BCCI terminated Kochi Tuskers' contract in 2012, alleging failure to provide bank guarantee. Franchise called it "wrongful termination".
Dispute
After 3-year legal battle, 2015 arbitration awarded ₹384.8 cr to Kochi Cricket Pvt Ltd & ₹153.3 cr to Rendezvous Sports World plus interest.
Arbitration
Justice R Chagla found "no patent illegality" in arbitral award. HC rejects BCCI's final attempt to avoid massive financial payout.
Judgement
Kochi Tuskers played only 2011 IPL season before termination. Franchise was owned by RSW-led consortium including prominent business figures.
History
₹538 crore payout (with interest) deals significant financial blow to BCCI. Amount equals nearly 10% of BCCI's annual revenue.
Impact
Case sets important legal precedent for IPL franchise agreements. May influence other terminated teams like Pune Warriors to seek compensation.