The Board of Control for Cricket in India (BCCI) President Sourav Ganguly has filed a plea in Bombay High Court to claim Rs 36 crore from Percept Talent Management Ltd and Percept D Mark. The former captain filed a plea following an arbitral award and on Monday got a reprieve.
Percept Talent Management and Percept D Mark on Monday said that they would disclose the assets by July 20 to a single bench presided over by Justice AK Menon.
The two companies are slated to pay a sum of ₹36 crore. This includes the original compensation amount of ₹14.50 crore and the interest that has been accumulated for non-payment.
The arbitration between the two parties comes out of a "Player Representation Agreement” according to a HC order. The respondent companies had to act as the exclusive manager of the former left-handed batsman as per this agreement.
The agreement was later terminated after the disputes came up between the parties. The respondent companies were then asked to pay Ganguly a sum of Rs. 14,49,91,000 with interest at the rate of 12 per cent per annum from November 21, 2007, till the realization of the payment after the former cricketer had invoked the arbitration clause in the pact.
The companies had paid an amount of just over Rs 2 Cr while a sum of over Rs 36 Cr is still pending as per Ganguly’s counsels. Therefore, Ganguly filed an execution plea before the High Court. The HC will now hear the plea on July 26.