Overview

• Justice Riyaz I. Chagla dismissed BCCI’s Section 34 petitions and affirmed awards of ₹385.50 crore to Kochi Cricket Private Limited and ₹153.34 crore to Rendezvous Sports World with accrued interest
• The court found that BCCI’s continued engagement and acceptance of payments after the guarantee deadline constituted a waiver of the bank guarantee requirement
• The single-judge bench held that absent a patent illegality, courts cannot revisit factual or contractual determinations made by arbitrators
• KCPL and RSW may withdraw the sums deposited by BCCI six weeks after the order is uploaded, provided no stay is granted on appeal
• BCCI has been given a six-week window to file an appeal against the high court’s decision