BCCI loses second arbitration case, to pay Nimbus Rs 12 crore

MUMBAI: Sports broadcaster and media and entertainment company Nimbus Communications has won its second arbitration against the Board of Control for Cricket in India (BCCI) regarding dispute over a television production agreement.

As a result of this, BCCI will have to pay Nimbus a sum of Rs 11.88 crore as on 31 August, 2015.

Dispute between Nimbus and BCCI arose in late 2011 on three separate contracts post, which the matter was taken to the Arbitral Tribunal.

Headed by Justice S. H. Kapadia, the Arbitral Tribunal ruled in favour of Nimbus and upheld and allowed the claim of Nimbus in two parts with interest and costs.

The claim of Nimbus for principal amount along with interest (on principal amount from the date of invoices till 28 October, 2013, being date of filing statement of claim by Nimbus) amounting to total of Rs 9.81 crore and further interest at nine per cent per annum on principal amount from 28 October, 2013 till date of payment.

Additionally, the Tribunal awarded Rs 20.47 lakh claim of Nimbus for reimbursement of Bank Guarantee Commission charges with interest at nine per cent per annum from 28 October, 2013 till date of payment.

Lastly, costs quantified at Rs 55.73 lakh have also been awarded to Nimbus. The total of these costs amount to a sum of Rs 11.88 crore.

The arbitral proceedings had commenced on 22 October, 2013 arising out of disputes pertaining to the TV production agreement between the two parties and BCCI dated 29 September, 2010 which was terminated by BCCI on 20 April, 2012.

Nimbus had also won the first arbitration in August 2014, which was in relation to supply of equipment and technical services. The total amount including principal amount, interest and costs was approximately Rs 10 crore. BCCI?s appeal in that regard was dismissed by the Bombay High Court and no further appeal is now possible due to the period allowed for further appeal now having expired. 

With this, Nimbus has now won both its completed arbitrations versus BCCI. The third arbitration, relating to media rights is underway and expected to conclude over the next few months. Nimbus? claim in the same is in excess of Rs 4000 crore plus interest.

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