New Delhi: The BCCI is likely to move the Supreme Court challenging the ruling of the Bombay High Court which has upheld the order passed by an independent arbitrator granting stay to the termination of IPL team Rajasthan Royals` contract.
"Our legal experts will first study the order and then we will decide the future course of action. We may move the Supreme Court" a BCCI source said.
Justice S J Vazaifdar today dismissed an appeal filed by BCCI challenging the stay granted by the arbitrator and permitted Rajasthan Royals to participate in the IPL-4 auction that is to be held on January 8 and 9.
The Court, however, imposed a condition on Rajasthan Royals directing them to file an affidavit before it by January 3 specifying full details of its ownership pattern and mode of control.
The Court also directed Rajasthan Royals to submit USD 2.83 million as guarantee to the BCCI for the contract and USD 18 million as bank guarantee for the players.
BCCI secretary N Srinivasan declined to comment on the development, saying his lawyers have not yet briefed him on the order yet.
BCCI had on October 10 terminated the franchisee agreement of Rajasthan Royals - winners of IPL in 2008 – after the team allegedly committed breach of contract by having changes in its corporate structure without consent.
Rajasthan Royals had on October 26 approached the High Court against BCCI. However, the case was kept pending as both the parties agreed to resolve the matter through arbitration.