BCCI set to pay huge Compensation to Kochi Tuskers.

The BCCI refused to give Rs. 550 crores that had to be given as compensation to Kochi Tusker, former ipl team. It has been proven that the BCCI had violated the Arbitrator Law . Thus the BCCI must have to pay an additional compensation of Rs.800 crores including 18 per cent interest as penalty. The Arbitrator issued the law on 2015. In the law it was clearly stated that if the money is not refunded, 18 per cent of the annual interest must be paid as penalty. Former Supreme Court Judge , R.P Lahoti ,led the panel in the court . On 2011 ,The Kochi Tuskers was expelled from the Indian Premier League following the announcement that the kochi Tuskers hadn’t submitted the annual bank guarantee to the BCCI. The Rondevu Consortium, a conglomerate of industrialists, owned Kochi Tuskers in 2010 for Rs 1550 crore.

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