The BCCI has received some positive news after it won the appeal against the Arbitration Award in favour of Deccan Chargers. The board was asked to pay INR. 4800 crore, in the Bombay High Court in the case that relates to the termination of the franchise by the governing body.
"It is a major relief for the BCCI. The Arbitration Award was very huge, close to Rs 5000 crore. We are thankful to the honourable court," said a BCCI office-bearer. Raju Subramaniam, the BCCI counsel, who had represented the board in the arbitration case, said, “The Arbitration Award was unsustainable. The franchise had not performed its duties and sought compensation. The award could not have been sustained.”
The Deccan Chargers Holding Ltd had earlier challenged the termination in September 2012 in the Bombay High Court. Retired Justice CK Thakkar was then appointed as the sole arbitrator in the case who made the decision.
A single-judge bench of Justice Gautam S Patel has now put aside the award and further said that the compensation was illegal.
The dispute began when the BCCI that was headed by N Srinivasan had given the Hyderabad franchise to Sun TV, terminating Deccan Chargers contract five years into their 10-year franchise agreement. Chargers had lifted the IPL trophy in 2009 after beating RCB in the final.