At one time in the IPL, a team called Kochi Tuscars Kerala played. The franchise suddenly disappeared due to controversy. Now the name of this team has once again become the focus of discussion.
The BCCI has received a major blow from the Bombay High Court in a case linked to Kochi Tuscars Kerala, where the court has rejected the Indian Cricket Control Board’s application and ordered a major Rs 538 crore to the franchise.
BCCI felt a big blow
Kochi Tuscars Kerala participated in IPL 2011. But the franchise was not seen next season, which was the reason that the BCCI canceled the contract. The BCCI said that the franchise did not file a bank guarantee. Randezswas Sports World and Kochi Cricket Private Limited Tribunal, the owner of the franchise, went to the Tribunal.
The franchise clarified that due to the availability of the stadium and the approval of the shareholders, they could not pay the bank’s guarantee, but it was not appropriate to end the team’s contract in a hurry for the BCCI.
The decision came under the right of the franchise
On January 2012, Kochi Cricket Private Limited wrote a letter to the BCCI saying that it would go to the arbitration. The tribunal dismissed all the BCCI arguments and said that the board of the board wrongly canceled the contract. At the same time, the BCCI will have to pay Rs 538 crore to the owners of the team including 18 % interest. But the BCCI still has a way to go to the Supreme Court against this decision. But the last decision will be made by the board. Kochi Tuscars Kerala has not given full money to many players who played in IPL 2011.