Kochi Tuskers wins arbitration proceedings against BCCI

The Board of Control for Cricket in India has lost the arbitration proceedings against former IPL team Kochi Tuskers Kerala (KTK) and that the latter has been awarded around Rs 1,080 crore.

The BCCI members were informed about the adverse verdict by BCCI joint secretary Amitabh Choudhary ahead of the Special General Meeting.

BCCI joint secretary Amitabh Choudhary informed members before the start of the Special General Meeting (SGM) at New Delhi that the Board had lost the arbitration proceedings against former IPL team Kochi Tuskers Kerala (KTK) and that the latter had been awarded around Rs 1,080 crore.

The Board is likely to find a remedy either through an out-of-court settlement or look at legal options.

The BCCI had terminated the agreement with KTK in September, 2011 after the team owners failed to provide a bank guarantee by March, 2011.

PCB letter

The members were also informed about a letter, dated May 3, received from the Pakistan Cricket Board (PCB) stating that the BCCI had breached the contract signed between the two Boards in 2014 by failing to play a one-day series in Pakistan in November 2014 and also a series in December 2015.

The PCB, stating it had suffered a loss of $69,576, 405, had asked the BCCI to respond in seven days and also expressed willingness to meet BCCI officials in Dubai and resolve the dispute.

Choudhary also told members that the ICC would be asked to inspect new cricket stadiums in Guwahati and Kerala in order to get international match accreditation.

“The BCCI joint secretary apprised the members about important issues that could not be discussed at the SGM,” said a member