NEW DELHI: Over ten years after the Board of Control for Cricket in India terminated the media rights agreement the BCCI had going with the now defunct World Sports Group (WSG) for the Indian Premier League, an arbitral tribunal has ruled in the BCCI’s favour.
In a majority decision, the tribunal consisting of Supreme Court Justices (Retd) Sujatha Manohar, Mukunthakam Sharma and SS Nijjar upheld the BCCI’s order of June 28, 2010 terminating WSG’s media rights to the IPL for for overseas territories
While issuing the termination notice, BCCI had accused then chairman of its IPL governing council Lalit Modi of committing fraud in collusion with WSG officials to the tune of Rs 4.25 billion.
The arbitral award allows the BCCI to appropriate the amounts lying in an escrow account pending the arbitration, which today after interest appreciation totals over Rs 8 billion, IANS reports.
P Raghu Raman, senior counsel who represented the BCCI, told the newswire: “Now that a binding arbitration award has clearly pointed out the fraudulent conduct of Lalit Modi and others from WSG group, the police complaint given by BCCI to prosecute these persons at least at this stage should be acted upon.”
