The Bombay High Court dismissed the BCCI’s challenge to arbitral awards exceeding ₹538 crore in favor of the owners of the defunct IPL franchise Kochi Tuskers. The court ruled that it could not act as an appellate authority over the arbitrator’s findings. The franchise was terminated in 2011 due to a breach of agreement, including failure to provide a bank guarantee. The owners argued that the delay was due to unresolved issues. The tribunal awarded ₹384 crore to Kochi Cricket Private Limited for loss of profits and ₹153 crore to Rendezvous Sports World for wrongful encashment of a bank guarantee. The BCCI contested the decision, claiming the tribunal exceeded its jurisdiction. However, the court found no grounds to interfere with the arbitral findings, stating that the termination of the franchise was a breach of contract. The court also found that the BCCI had effectively waived the guarantee deadline.
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