The Board of Control for Cricket in India (BCCI) has been directed to pay damages amounting to nearly Rs 8000 crore to Deccan Chronicle Holdings Limited (DCHL), the owner of the now defunct IPL side Deccan Chargers (DC), after an arbitrator appointed by the Bombay High Court found the side’s termination from the IPL to be illegal.
The IPL Governing Council had terminated DC in 2012 during the fifth season of the IPL and the Hyderabad franchise had challenged the ‘illegal termination'.
As per a Deccan Chronicle report, an amount of Rs.4,814.67 crore plus 10% interest from the date of initiation of proceedings in 2012 was allowed by the arbitrator for the damages and as compensation. This is along with Rs 50 lakh costs, and the total sum is to the tune of nearly Rs 8000 crore.
The BCCI was allowed to make a counterclaim in this case. Accordingly, an appeal is on the cards from the board against the award, said the IANS report.
A BCCI official was quoted as saying that the turn of events was surprising and a final decision would be made only after going through the complete order.
"To be honest, it has come as a surprise and it would be fascinating to see what the Ld. Arbitrator has relied upon and one can make a proper assessment only upon reading the order but you can be sure that the BCCI would go in appeal against this award since it does have a very good case," he told IANS.
As per the statement released by the lawyers on behalf of the promoters, they claimed it was a case of ‘discrimination’. Though there were other franchises that had ‘actually indulged in illegal activities’, they were ‘only handed meagre penalties, or banned for two seasons’, the statement said.
Deccan Chargers had approached the Bombay HC and with an eye on the IPL franchise agreement, the process of arbitration started with Justice (retd) C K Thakar as the sole arbitrator. DCHL had claimed damages of Rs 6046 crore plus interest and charges as per reports.
With Inputs from IANS