The Board of Control for Cricket in India (BCCI) was forced to drop Deccan Chargers, one of the first eight teams of the Indian Premier League (IPL) from the IPL, which has now resulted in a hefty fine of Rs 4800 crore.
In this case, the court-appointed arbitrator has given a judgment against BCCI and imposed a fine of Rs 4800 crore.
Actually, this is the case of 2012. Deccan Chargers won the IPL title in 2009 and the team captain at the time was Adam Gilchrist of Australia. Deccan Chronicles Holdings appealed against this decision in the Bombay High Court.
The High Court appointed retired Supreme Court Judge CK Thakkar as arbitrator eight years ago. On Friday, the arbitrator gave his decision in favour of Deccan Chronicles Holdings.
The arbitrator has imposed a fine of Rs 4800 crore on the BCCI. With this, the board will also have to pay 10 percent interest and a fee of Rs 50 lakh for every year since the case started in 2012. Meanwhile, BCCI interim CEO Hemang Amin said on the verdict that he has not received a copy of the verdict, and only after reading it will the BCCI decide the further course of action.
It is notable that in 2008, Deccan Chargers were one of the eight teams of the early season which remained in the IPL till 2012.
Deccan Chargers was previously owned by Deccan Chronicles Holdings. The Hyderabad team was dropped from the IPL on 15 September 2012. After that Sun TV Network won the bid for the Hyderabad franchise and then the Sunrisers Hyderabad team came in IPL.