In what arrives as a key enhance for the Board of Manage for Cricket in India (BCCI), in a greater part conclusion, an Arbitral Tribunal consisting of Supreme Court Justices (Retd) Sujatha Manohar, Mukunthakam Sharma and S.S. Nijjar have upheld the termination of the media legal rights settlement for abroad territories with Planet Sports activities Team (WSG) by the BCCI on June 28, 2010.
BCCI on the verdict
Speaking to IANS, a former BCCI official reported that the verdict vindicates the stand of the BCCI. “It is applicable that the Award has acknowledged the case of BCCI that Lalit Modi was guilty of concealing the agreements that experienced been entered into and also the defaults dedicated by WSG Mauritius, from the then place of work bearers,” he said.
The BCCI experienced accused the then chairman of its IPL Governing Council Lalit Modi of committing fraud on BCCI in collusion with WSG officers to the tune of Rs 425 crore.
In a complete vindication of the hard stand taken by the BCCI place of work-bearers including N. Srinivasan then Secretary, the Arbitral award has permitted the BCCI to correct the amounts lying in escrow pending the arbitration. This sum is to the tune of over Rs 800 crore.
P. Raghu Raman Senior Counsel who represented the BCCI explained: “Now that a binding arbitration award has evidently pointed out the fraudulent carry out of Lalit Modi and some others from WSG group, the police criticism presented by BCCI to prosecute these folks at minimum at this stage should really be acted upon.”
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