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Bombay HC upholds ₹538 cr Kochi Tuskers arbitral award against BCCI
Bombay HC dismisses BCCI's appeal and upholds arbitral award over wrongful termination of Kochi Tuskers; franchise partners KCPL and RSW to receive ₹538.84 crore
New Delhi
The Bombay High Court has upheld an arbitral award directing the Board of Control for Cricket in India (BCCI) to pay ₹385.50 crore to Kochi Cricket Private Limited (KCPL) and ₹153.34 crore to Rendezvous Sports World (RSW) in connection with the Kochi IPL (Indian Premier League) franchise.
Kochi Tuskers Kerala participated in the 2011 season of the IPL under a consortium led by RSW and operated by KCPL. However, the BCCI terminated the team's contract the following year, citing breach of the franchise agreement.
Following the termination, RSW and KCPL initiated arbitration proceedings against the BCCI, alleging wrongful termination of their franchise agreement.
On 22 June 2015, the arbitral tribunal awarded KCPL over ₹384.83 crore and RSW ₹153.34 crore, along with interest and costs. The BCCI subsequently approached the Bombay High Court seeking to set aside the tribunal's award.
Justice Chagla also held that the court would not interfere with the award even on grounds of an allegedly incorrect interpretation by the arbitrator.
'The learned arbitrator has, in the impugned KCPL and RSW awards, decided the core issue—viz., whether BCCI wrongfully invoked the bank guarantee furnished by RSW and whether this amounted to a repudiatory breach of the KCPL-FA—by considering the material facts, documents on record, and recorded evidence,' the order stated.
The order further added: 'The learned arbitrator has also considered whether the non-furnishing of a bank guarantee by KCPL by 22 March 2011 constituted an 'irremediable material breach' of both the KCPL and RSW franchise agreements. The impugned awards conclude that the material on record militated against a finding of irremediable material breach.'
The court held that the arbitrator's conclusion—that BCCI had wrongfully invoked the bank guarantee—required no interference under Section 34 of the Arbitration and Conciliation Act, 1996. This section outlines the grounds and procedures for setting aside an arbitral award in India.
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