Mumbai, June 19: The Bombay High Court has ruled that BCCI must pay Rs 538 crore to Kochi Tuskers Kerala, a former IPL team. The team was removed from the IPL in 2011 after just one season.BCCI had ended the contract, saying the team failed to give a bank guarantee on time. The team took the matter to arbitration and won.
In 2015, the arbitral tribunal said BCCI must pay Rs 550 crore. BCCI challenged this in court. But now, the High Court has rejected BCCI’s appeal.
The court said it cannot question the decision of the arbitration under the law. Kochi Tuskers had bought the franchise for Rs 1,550 crore but failed to pay their yearly fee, leading to the contract’s cancellation.