Breaking Competition Commission Slaps Rs 52-cr Penalty On BCCI

[jakab]

CRICKETNEXT
Competition Commission Slaps Rs 52-cr Penalty On BCCI
Updated on: November 29, 2017, 5:45 PM IST
CRICKETNEXT , PTI

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Competition Commission Slaps Rs 52-cr Penalty On BCCI
New Delhi: The Competition Commission on Wednesday imposed a fine of Rs 52.24 crore on the Board of Control for Cricket in India (BCCI) for anti-competitive practices with respect to IPL media rights.

Earlier in 2013 also, the watchdog had penalised the cricket board. In its 44-page order, the Competition Commission of India (CCI) said the penalty of Rs 52.24 crore comes to nearly 4.48 per cent of the average of the BCCI's relevant turnover during the last three financial years.
The average turnover of Rs 1,164.7 crore is for three financial years -- 2013-14, 2014-15 and 2015-16. "The assessment of the Commission clearly brings out that the impugned clause in the IPL (Indian Premier League) Media Rights Agreement has been pursued by BCCI consciously to protect the commercial interest of the bidders of broadcasting rights as well as the economic interest of BCCI," it said.
In February 2013, the watchdog had slapped a fine of Rs 52.24 crore on the BCCI. Although at present, the average of the relevant turnover is slightly higher than the one which was considered by the CCI while passing the order in February 2013, the regulator said it prefers to maintain the penalty amount.
Competition Commission Slaps Rs 52-cr Penalty On BCCI

 

[Adars Salaria]

Bro I don't understand a single word of it, can you tell me something in short and Simple?
And who is this Competition commission ?

 

[Sarkar]

Bro I don't understand a single word of it, can you tell me something in short and Simple?
And who is this Competition commission ?

Competition Commission of India - Wikipedia

Fine is for BCCI's assurance to the broadcasters of Indian Premier League (IPL) that the BCCI will not organize, sanction, recognize, or support another professional domestic Indian T20 competition that is competitive to IPL, for a sustained period of ten years.

It is basically a Tit for tat act by Govt as BCCI refused to come under Govt's sports ministry so govt withdraw all benefits which BCCI enjoys till now and now Govt will treat it as a private enterprise. So all the rules which are applicable on any company(like a company cannot create a monopoly in market) will now also be applicable on BCCI.
Under CCI investigation, based on the nature of activities performed, BCCI has been held as an enterprise and thus, would come under the purview of the Competition Act, 2002.

Competition Commission of India imposes Rs 52.24 crore fine on BCCI for abuse of dominant position | Latest News & Updates at Daily News & Analysis