Bombay HC stays arbitrator’s status quo order

PTI Updated - March 12, 2018 at 02:40 PM.

Setback for Deccan Chargers

In fresh setback for debt-ridden Deccan Chronicle Holdings Ltd, the Bombay High Court on Saturday stayed the order of the arbitrator, who had yesterday granted status quo on the Cricket Board’s decision to terminate its franchise Deccan Chargers.

The stay was granted by Justice R D Dhanuka on an appeal filed by BCCI under section 37 of Arbitration and Conciliation Act.

The arbitrator appointed by the Bombay High Court, retired Supreme Court Judge, C K Thakkar, in his first meeting yesterday, passed an order granting status quo till October 17 on the decision of BCCI to terminate the franchise. Being aggrieved, the Cricket Board moved the High Court today and secured a stay.

The court will hear the matter again on October 17. Cash-strapped DCHL had yesterday failed to give a Bank Guarantee of Rs 100 crore to BCCI, a condition set by the High Court for continuance of the beleaguered franchise in the league. The DCHL had sought time till October 15 to file a bank guarantee but the High Court refused to extend the deadline.

The court had on October 1 asked DCHL to give the bank guarantee which would be in force for a period of one year. The judge had also observed that BCCI had at all stages acted in haste in terminating the franchise agreement with DCHL and not granted it time to cure the defects.

Being aggrieved, BCCI had filed an appeal against the October 1 order of the High Court which is likely to come up for hearing before a division bench headed by Chief Justice Mohit Shah on October 15.

Published on October 13, 2012 12:49