In what comes as a major set back to the beleaguered Deccan Chronicle Holdings (DCHL), the Bombay High Court has decided in favour of the Board of Control for Cricket in India (BCCI). Thus, the BCCI has won the legal battle against the former IPL franchise Deccan Charges.
Speaking to media, a BCCI official in the know of developments said it was a welcome decision. “We are extremely happy with the development. It has vindicated our position as we had always followed what was in the agreement,” the official said. To go back to the case, the IPL Governing Council had terminated Deccan Chargers in 2012 and the franchise had challenged the termination.
They had approached the Bombay HC and the process of arbitration started with Justice (retd) C.K. Thakar as the sole arbitrator and BCCI was ordered to shell out Rs 4800 crore to DCHL in July 2020. This after DCHL had claimed damages of Rs 6046 crore plus interest and charges as per reports.
While reacting to the development back in July 2020, a BCCI official had made it clear that an appeal was on the cards as the board strongly believed it had a very good case.
This post was last modified on 16 June 2021 12:18 pm
Malayalam superstar Mammootty voiced support for the ongoing student protests, saying the youth are the…
The Youth have taken over Jantar Mantar in the National Capital. After Sonam Wangchuk's Fast…
Cockroach Janta Party founder Abhijeet Dipke said the ongoing NEET protest would not remain limited…
The Andhra Pradesh government has started releasing Thalliki Vandanam funds for the second consecutive year,…
A Mumbai police officer has been suspended after a viral video allegedly showed him threatening…
Andhra Pradesh Deputy Chief Minister Pawan Kalyan personally spoke to the family of Gabbar Singh…