The Bombay High Court has upheld the arbitral, directing the Board of Control for Cricket in India (BCCI) to pay Rs 538 crore to the now defunct IPL franchise Kochi Tuskers Kerala. Kochi Tuskers Kerala was terminated by the BCCI in 2011 after playing just one season. The BCCI had terminated the franchise after just one season (2011), accusing the team of a contract breach after failing to submit a bank guarantee on time, which was required under the agreement.

"The jurisdiction of this Court under Section 34 of the Arbitration Act is very limited. BCCI's endeavour to delve into the merits of the dispute, is in teeth of the scope of the grounds contained in Section 34 of the Act. BCCI's dissatisfaction as to the findings rendered in respect of the evidence and/or the merits cannot be a ground to assail the Award," the court said in its ruling.

More to follow...

Source: NDTV