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India Today
8 hours ago
- Business
- India Today
Setback for BCCI as court affirms Rs 538-crore arbitral awards to Kochi Tuskers
In a significant setback for the Board of Control for Cricket in India (BCCI), the Bombay High Court on Tuesday affirmed arbitral awards exceeding Rs 538 crore in favour of the owners of the now-defunct Indian Premier League (IPL) franchise Kochi Tuskers Kerala [BCCI v Kochi Cricket Private Limited and others].Justice R.I. Chagla, presiding as a single judge, dismissed the BCCI's challenge to the arbitral awards, ruling that the court could not act as an appellate authority over the arbitrator's 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 observed. The Kochi Tuskers franchise, awarded to a consortium led by Rendezvous Sports World (RSW) and later operated by Kochi Cricket Private Limited (KCPL), participated in the 2011 IPL season. However, the BCCI terminated the franchise in September 2011, citing a breach of the franchise agreement—specifically, the failure to furnish a 10% bank guarantee amid internal disputes between the had contended that the delay was due to unresolved issues including stadium availability, regulatory approvals on shareholding, and a sudden reduction in the number of IPL matches. Despite the delay, BCCI continued engaging with KCPL for several months and accepted various payments, before abruptly terminating the franchise and encashing a prior guarantee issued by proceedings were initiated by both KCPL and RSW in 2012, with the tribunal ruling in their favour in 2015. It awarded ?384 crore to KCPL for loss of profits and Rs 153 crore to RSW for wrongful encashment of the bank guarantee, along with interest and legal contested the awards, arguing that the tribunal had exceeded its jurisdiction and misapplied legal principles. It insisted that KCPL's failure to provide the bank guarantee amounted to a fundamental breach, justifying the termination. It also objected to the award of both loss of profits and wasted expenditure, claiming the damages were excessive and in breach of the contractual BCCI challenged the validity of RSW's arbitration claim under the Indian Partnership response, KCPL and RSW argued that BCCI had, through its conduct, effectively waived the guarantee deadline and that the termination was unjustified and disproportionate. They maintained that the arbitrator's ruling was based on "a correct appreciation of the evidence on record".The Court concurred, finding no grounds to interfere with the arbitral findings. "The arbitrator's conclusion that the BCCI's termination of the Kochi franchise was a repudiatory breach of contract would call for no interference under Section 34 of the Arbitration Act," the Court held. It emphasised that "just because a different view may be possible would not be a ground for interference with the award."advertisementWith this ruling, the Bombay High Court has reinforced the finality of arbitral awards and limited judicial scrutiny under the Arbitration and Conciliation Act, marking a clear judicial endorsement of the arbitral process in commercial disputes."Thus, based on these material facts and documents on record, the finding of the learned Arbitrator that BCCI waived the requirement under Clause 8.4 of the KCPL-FA for furnishment of bank guarantee for 2012 season on or before 22nd March, 2011 cannot be faulted," the Court Watch
Yahoo
07-03-2025
- Politics
- Yahoo
RI leaders, advocates push for ‘Freedom to Read' bill at State House
PROVIDENCE, R.I. (WPRI) — Several state leaders and advocates gathered Thursday afternoon to highlight the importance of protecting free expression and ensuring access to a wide range of books and ideas. Members of the Rhode Island Freedom to Read Coalition held a press conference at the state house to celebrate a proposed bill that aims to safeguard free speech, free inquiry, and the right to form and express opinions—protections outlined in the First Amendment and the Rhode Island Constitution. RELATED: Lawmakers advocate for bills protecting libraries from book bans According to R.I. Authors Against Book Bans, the bill seeks to: Shield library users from censorship attempts by outside groups Establish standardized guidelines for library acquisitions Protect librarians, teachers, and museum employees from civil and criminal liability over materials in their collections Uphold the freedom of expression for Rhode Island-based creators Rep. David Morales and Sen. Mark McKenney, sponsors of the Freedom to Read Act, were among those at the event. As part of the free gathering, R.I. Authors Against Book Bans distributed books by Rhode Island creators that have been banned, challenged, or soft-censored. The first 250 attendees were eligible to take home a Download the and apps to get breaking news and weather alerts. Watch or with the new . Follow us on social media: Close Thanks for signing up! Watch for us in your inbox. Subscribe Now Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
