BCCI’s Kochi Tuskers compensation rising @ ₹75 lakh per day

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The Board of Control for Cricket in India (BCCI) may find the Kochi Tuskers Kerala’s compensation claim issue too hot to handle. The Committee of Administrators had settled the compensation claim with the Kochi Tuskers team ownership at ₹ 800 crore two years ago.

However, the BCCI has since not made the payment to the franchisee. According to reports the debt is now mounting “at ₹ 75 lakh per day”. If the dues are not paid soon, the outstanding might just become unbearable for the board, a BCCI source has reportedly told the BCCI.

The BCCI had terminated the Kochi Tuskers franchisee in 2011. A Supreme Court Bench, headed by the then Chief Justice RC Lahoti, had pronounced the termination unlawful and ordered a compensation of ₹ 550 crore for the franchisee. The BCCI was also ordered to pay an interest at 18% per annum on the total amount. The CoA had then negotiated with the franchisee and settled the total dues at ₹ 800 crore.

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However, the board could not clear the payment for technical and operational issues. While CoA did not much interest in sorting out the “legacy issue”, the BCCI Annual General Body since could not be called as the board is in suspended animation with the president, secretary and treasurer functioning only in “officiating” capacities.

The board has not been able to pursue the payment issue. With no legal reprieve in sight and the BCCI not being able to convene its AGM, the compensation amount has become even bigger, national daily Times of India has reported.

InsideSport.co tried to reach out to the franchisee management. But there was no response.

According to the report the matter can only be handled by the general body. “If the Kochi issue isn’t settled immediately, BCCI may have to pay more than ₹800 crore. Earlier, the general body members were trying to bargain after the promoters agreed on ₹800 crore,” a BCCI source added. The amount, rising enormously has reportedly reached ₹ 1,750 crore some time back and it continues to go up at a whopping ₹75 lakh per day.0

For record the BCCI’s SGM had taken stock of the matter and the repercussions of paying such a heft penalty as settlement towards the end of 2017.

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