The Deccan Chargers players celebrate after defeating the Royal Challengers Bangalore in the 2009 Indian Premier League final. (AP Photo).
Deccan Chronicles Holding Ltd (DCHL) in a dispute against the Cricket Control Board in India (BCCI) over the termination of the India Premier League franchise team (IPL) was awarded by an arbitrator on Friday more than Rs 4,800 crore. , said a DCHL attorney.
The arbitrator held that termination of the franchise was illegal, the lawyer added.
After BCCI conceptualized the IPL T20 tournament in 2008, DCHL was declared a successful bidder for the Deccan Chargers franchise in Hyderabad, and an agreement was signed between Deccan Chargers and BCCI for ten years.
But on August 11, 2012, the BCCI issued a just cause notice for termination of the franchise to DCHL, and the termination was confirmed one day before the expiration of the 30-day period granted to respond to the notification, the attorney said.
DCHL then approached the Bombay High Court alleging that the termination was arbitrary. The HC in September 2012 appointed the retired Supreme Court Justice C K Thakker as the sole Referee to decide the matter.
“The sole arbitrator on Friday confirmed that the termination was illegal and awarded damages in the amount of Rs 630 crore and compensation to DCHL in the number of Rs 4,160 crore.
“DCHL has also been awarded Rs 36 crore as an allowed amount to pay under the Franchise Agreement,” said Maneesha Dhir, managing partner of Dhir & Dhir Associates, who appeared for DCHL.
BCCI can challenge the arbitrator’s order before the Bombay High Court.
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