BCCI will pay former IPL franchise Deccan Chargers Rs 4,800 crore: Here’s why

The Board of Control for Cricket in India has been ordered to pay Rs 4,800 crore to Deccan Chronicles Holding Ltd (DCHL) over the termination of the company’s IPL franchise team (Deccan Chargers) as per an arbitrator, a DCHL lawyer claimed.

The lawyer further added that the arbitrator also held the termination of the franchise as illegal.

Back on August 11, 2012, BCCI issued a show-cause notice for termination of the franchise to DCHL (aka Deccan Chargers).

However, according to the lawyer, the termination official happened a day before the 30-day expiry period of the granted to respond to the notice.

DCHL thus approached the Bombay High Court appealed that their termination was arbitrary. In September 2012, the HC also appointed retired Supreme Court Justice C K Thakker as the sole Arbitrator to determine the matter.

“The sole arbitrator on Friday upheld the termination to be illegal. And granted damages to the tune of Rs 630 crores and compensation to DCHL to the tune of Rs 4160 crores,” Maneesha Dhir, Managing Partner of Dhir & Dhir Associates.

“DCHL has also been granted Rs 36 crore as an admitted amount payable under the Franchise Agreement,” he added.

During the inaugural season of the IPL back in 2008, Deccan Chargers were one of the 8 classic sides who went on to dominate the domestic T20 circuit in India alongside Chennai Super Kings.

Source: DNA India