The Board of Control for Cricket in India (BCCI) received positive news on Wednesday as they won their nine-year-long battle against Deccan Chronicle Holdings (DCHL). DCHL had a team that went by the name of Deccan Chargers in the Indian Premier League (IPL).
The Adam Gilchrist-led side had won the IPL in 2009 but was suspended from the cash-rich league by the BCCI after the fo𝐆rmer failed to submit a bank guarantee of Rs 100 crores way back in 2012.
The apex body also alleged that the franchise had issu♉es in paying their players and staff members on time, which result♒ed in tarnishing the image of the T20 tournament.
DCHL then initiated an arbitration case on BCCI, and retired Supreme Court Justice, CK Thakkar, was appoဣinted to settle the dispute by the Bombay High Court.
While DCHL had claimed damages amounting to INR 6046 crores plus interests and charges, Thakkar ordered BCCI to appropriate funds amounting to INR 4800 in July 2020.
India’s governing body challenged the decision and won the legal proceedings.
As per new🌳s agency ANI, an unnamed BCCI official had expressed his happineꦕss that the case swung in their favour.
“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.
DCHL had won the rights of the franchise du🃏ring the inception of the IPL in 2008 at a price of 107 million dollars for ten years.
Later, BCCI sold the rights of the Hyderabad franchise to Sun TV Group🧸 fo𝐆r INR 425 crores (Rs 85 crore a year) through a bidding process.
The owners of Kochi Tusker Kerala had won a similar case in 2017, and then BCCI was asked ꦐto pay INR 850 cro♓res.
