The High Court here today cleared the decks for the Rajasthan Royals franchise to participate in the fourth round of the Indian Premier League (IPL) cricket tournament. The Court dismissed an appeal by the Board of Control for Cricket in India (BCCI) challenging the stay by the arbitrator and allowed Rajasthan Royals to participate in the IPL 4 auction that will be held on January 8 and 9. The court also directed the Rajasthan Royals to deposit $2.83 million as a guarantee amount with the BCCI for the contract and another $18 million as bank guarantee for the players.
BCCI sources said here late Tuesday evening that the board plans to challenge the high court ruling in the Supreme Court. The high court also directed the Rajasthan Royals franchisee to file an affidavit before it by January 3 giving complete details of its ownership pattern and mode of control. Justice Vazifdar said it was necessary to establish the bonafides of the three owners - Emerging Media (IPL) Ltd, Tresco International and Bluewater Estates Ltd - and the BCCI was also entitled to ask the full disclosure of ownership under its franchisee agreements. The Rajasthan Royals' affidavit must also give clear details for the mode of control, and statements by the three company owners that they are in complete control of their investment companies.
BCCI sources said here late Tuesday evening that the board plans to challenge the high court ruling in the Supreme Court. The high court also directed the Rajasthan Royals franchisee to file an affidavit before it by January 3 giving complete details of its ownership pattern and mode of control. Justice Vazifdar said it was necessary to establish the bonafides of the three owners - Emerging Media (IPL) Ltd, Tresco International and Bluewater Estates Ltd - and the BCCI was also entitled to ask the full disclosure of ownership under its franchisee agreements. The Rajasthan Royals' affidavit must also give clear details for the mode of control, and statements by the three company owners that they are in complete control of their investment companies.
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