Zeenews Sports Bureau
New Delhi: Bombay HC rejected IPL franchise Kochi Tuskers Kerala's plea seeking order to restrain BCCI from encashing bank guarantee of Rs 154-cr.
Earlier in the day, qwners of Kochi Tuskers Kerala moved the Bombay High Court to challenge the BCCI`s decision to terminate the team`s contract at its Annual General Meeting.
"Yes, we have moved the court and there is a hearing in the afternoon," said Kochi Tuskers Kerala chairman Mukesh Patel.
Cracking the whip for breach of contractual terms, the Indian Cricket Board on Monday terminated its contract with the Kerala based team citing "irremediable breach".
The franchise, however, is willing to take the fight to the BCCI camp.
Soon after the termination of the contract, the owners of KTK threatened legal action against the BCCI.
The BCCI`s claim that the franchise defaulted on a Rs 156 crore annual payment which it was supposed to make as bank guarantee, was refuted by Patel.
"The BCCI notice was wrong, (it was) prima facie. We will take legal action against them after our legal team reviews the case in a day or two. Maybe we have to move court," Patel had said.
"We have never defaulted. The BCCI will be paying us Rs 12-15 crore next month as a part of our central revenue," he had added.
Patel was miffed that the BCCI did not cut down the franchise fees despite reducing the number of matches in IPL 4 from 94 to 74 due to packed international calendar.
"The number of games in Tender Document was 94, they then reduced it to 74 but did not reduce the franchise fees."
With PTI inputs