Image Courtesy- Cricket Times
In a relief to the Board of Control for Cricket in India (BCCI), the Bombay court on Wednesday put aside an arbitration award directing the Board to pay Rs 4800 crores for the termination of Hyderabad Deccan Chronicle Holdings Ltd (DCHL)from the Indian Premier League (IPL).
A single bench of justice Gautam Patel put aside the award (order) gone by an arbitrator who was appointed in 2012 to make a decision on the Board’s termination notice to Deccan Chronicle Holdings Limited (DCHL).
In July 2020, retired Supreme Court judge C.K. Thakkar, the only arbitrator, had directed BCCI to pay DCHL a compensation of Rs 4,814.67 crores and 10 percent interest from 2012. This was subsequently challenged before the high court.