Bombay High Court upholds stay on Rajasthan Royals termination
By ANITuesday, December 14, 2010
MUMBAI - The Bombay High Court on Tuesday upheld the stay on the termination of Rajasthan Royals made by the Board of Control for Cricket in India (BCCI) following which the team can now participate in the auction for the fourth edition of the Indian Premier League (IPL) tournament.
Passing the order, the judge advised Rajasthan Royals to disclose the role of three companies who are part of the consortium.
Moreover, the judge ordered the owners to disclose the share holding pattern by Manoj Badale of Emerging Media and also provide bank guarantee of over 20 million US dollars.
Both parties completed the arguments in the court with the BCCI repeating its contention that the ownership of Rajasthan had changed hands, while the franchise maintained that the final control of the team had remained the same.
The BCCI in its appeal said to the court that if there is an injunction then it should have fiscal riders attached to it, but Rajasthan royals objected to the argument.
The BCCI had on October 10 terminated the Indian Premier League (IPL) franchise agreements of Rajasthan Royals and Kings XI Punjab over “breaches committed by the franchisees”.
The decision was taken in an IPL Governing Council meeting held in Mumbai. (ANI)
