BCCI joint secretary Amitabh Choudhary informed members before the start of the Special General Meeting (SGM) at New Delhi that the Board had lost the arbitration proceedings against former IPL team Kochi Tuskers Kerala (KTK) and that the latter had been awarded around Rs 1,080 crore.
The Board is likely to find a remedy either through an out-of-court settlement or look at legal options.
The BCCI had terminated the agreement with KTK in September, 2011 after the team owners failed to provide a bank guarantee by March, 2011.
Kochi Tuskers wins arbitration proceedings against BCCI - Sportstarlive
The Board is likely to find a remedy either through an out-of-court settlement or look at legal options.
The BCCI had terminated the agreement with KTK in September, 2011 after the team owners failed to provide a bank guarantee by March, 2011.
Kochi Tuskers wins arbitration proceedings against BCCI - Sportstarlive
