Big blow to BCCI as Kochi Tuskers win Rs 538 crore arbitral award in IPL termination case

The Bombay High Court has ruled in favour of the former Indian Premier League (IPL) team Kochi Tuskers Kerala, handing a big blow to the Board of Control for Cricket in India (BCCI) . The court upheld an arbitral award of over Rs 538 crore in favour of the Kochi franchise, which was terminated by the BCCI back in 2011. Kochi Tuskers had played just one IPL season in 2011 before being banned by the BCCI due to an alleged breach of the franchise agreement. The BCCI said that Kochi Cricket Private Limited (KCPL), which owned the team, had failed to submit a bank guarantee on time, which was required under the contract. However, Kochi Tuskers argued that there were other issues like stadium permissions and internal clearances, and that BCCI had still accepted payments and continued talks even after the deadline passed. The case went to arbitration in 2012, and in 2015, the tribunal ruled in favour of Kochi Tuskers.