Sourav Ganguly moves Bombay High Court seeking enforcement of Rs 35 crore arbitration award

Sourav Ganguly moved the Bombay High Court seeking to enforce an order that compensates him with over Rs 35 crore.

BCCI president Sourav Ganguly is expected to join the virtual meeting from Mumbai.   -  FILE PHOTO/ REUTERS

Former India captain Sourav Ganguly, who is the president of the Board of Control for Cricket in India (BCCI), moved the Bombay High Court seeking to enforce an order that compensates him with over Rs 35 crore.

As per an order passed by an arbitration tribunal on December 9, 2018, Ganguly’s former management companies, Percept Talent Management Ltd and Percept D Mark (India) Limited have to pay him Rs 35 crore as compensation.

The 49-year-old filed the interim application before the high court on June 29 and the matter was heard on July 12. He also sought for the companies to disclose their assets which they have agreed to do on July 20.

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Senior advocate Birendra Saraf, appearing for Ganguly informed the court that both the companies owe him more than Rs. 35 crore, which includes the original compensation of Rs. 14. 4991 crore with the interest at the rate of 12 percent per annum from November 21, 2007 till the date of realisation of the amount. The application before the court alleges that the directors of the companies have systematically siphoned off monies from their accounts to other firms.

The dispute arose after the companies failed to perform duties of exclusive manager to the former captain of the Indian cricket team.

A single bench of justice AK Menon directed an affidavit-of-disclosure to be filed by a director of each of the companies. The directors will have to obtain all necessary instructions from the Finance Department so that the affidavits-of-disclosure are complete in all respects. The matter will be heard on July 26.

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