The IPL team wants a compensation of Rs 850 crore

Indian Premier League (IPL) abolished franchise Kochi Tuskers demanded Rs 850 crores from the Indian Cricket Board (BCCI). But the BCCI refused to compensate them. The decision was made at a special general meeting held in New Delhi on Monday.

N Srinivasan, chief of the BCCI, canceled the franchise due to failing to guarantee the annual fee bank of the IPL in 2011. Kochi, who played in that season in IPL, finished the tournament in the eighth position of 10 teams. However, the Srinivasan's claim was "illegal" and the case against the BCCI was filed against the franchise. The court's verdict was on their side due to the compensation of Rs 850 crore, the team will get compensation.

Chairman Rajiv Shukla said, "The Kochi Tuskers demanded a compensation of Rs 850 crore," said the IPL governing council. We discussed the matter at the governing council meeting. It will now be discussed in the general meeting. '

At the beginning of this year, the BCCI proposed to pay Rs 460 crore to Kochi. They did not respond.

Kochi has won the case in 2015 by challenging Srinivasan's decision. The case of breach of contract was brought in the case. BCCI was asked to pay a compensation of Rs. 550 crores on the panel's verdict. Otherwise, the 18 percent rate of fines were also mentioned. The BCCI did not pay the compensation in the last two years, and even did not take the initiative to get the team back in the IPL.

According to news agency PTI, an official of the IPL Governing Council said, "The whole problem is the crushing of a man. If Shashanka Manohar did not take this decision, we could take care of the matter. Even before the arbitrator, Kochi offered to negotiate the issue in 300 crores. Our officials behaved in a brave manner. Now we have to pay more than twice the amount. '

BCCI and IPL officials have been in great danger due to big money scams. Of course, the BCCI officials will try to negotiate the issue. Otherwise, the world's richest cricket board will have to pay so much bigger penalties. Source: PTI, Deccan Chronicles, The Indian Express.