Arbitration act

Bombay High Court: The Board of Control for Cricket in India (BCCI) has suffered a setback as the Bombay High Court has upheld the arbitral accord to pay Rs 538 crore to the defunct Indian Premier League (IPL) franchise Kochi Tuskers Kerala.

The court has rejected BCCI's suit challenging the arbitral ruling in the long-standing IPL franchise controversy, which has been going on for over a decade. Despite multiple attempts, BCCI officials remained unavailable for comment on the matter.

The BCCI had terminated the Kochi franchise in 2011 after one season, accusing the team of a contract breach after failing to submit a bank guarantee on time, which was required under the agreement. The franchise was unable to make its payments to BCCI because of a falling out between the owners.