The defunct IPL franchise, Deccan Chargers (DC), owned by Deccan Chronicle Holdings Ltd. (DCHL) has won a hefty award in a former dispute with BCCI.

The team was launched in the premier season of IPL, which is 2008, and had signed a contract with BCCI for ten years. But, in 2012, BCCI terminated this franchise stating that DCHL was accountable for breaking the code. 

Subsequently, the franchise was won by the renowned SunTV network and the name of the franchise was changed to Sunrisers Hyderabad (SRH) from Deccan Chargers. 

The BCCI claimed that DCHL had pending dues to the tune of INR 4000 Crore as it had not paid the players as well as many bank creditors. Therefore, the BCCI terminated the franchise.

It was on this ground that DCHL claimed that the termination was premature and wrong. The matter went into arbitration and consequently, the court appointed Hon’ble Justice C.K. Thakker as the sole arbitrator to decide the matter.

Meanwhile, 5 years passed and the arbitration proceedings were still pending. In 2017, insolvency proceedings were initiated against DCHL under The Insolvency and Bankruptcy Code, 2016 (IBC) and therefore, the arbitration proceedings were halted for two years.

After an arduous battle of 8 long years, the sole Arbitrator upheld the termination as illegal, premature, and arbitrary, and consequently awarded INR 4800 Crore to DCHL, along with an interest of 10% since the arbitration commenced in 2012.

The BCCI has been asked to pay the amount by the end of this September with interest.