Off The Field

Ganguly moves court for enforcing arbitral award of over Rs 35 crores

Written by Rohit Pawar

President of the Board of Control for Cricket in India (BCCI), Sourav Ganguly, has moved to the Bombay High Court for enforcement of an award by a three-member arbitral tribunal awarding him over Rs 35 crores payable by his former management companies.

In the plea, Ganguly has sought that the companies – Percept Talent Management Ltd. and Percept D Mark (India) Ltd should disclose their assets. As an interim relief, he has also sought that the companies should be restrained from doing any transactions on the properties. This is because, Ganguly, through his lawyers, Nankani & Associates raised a concern that the directors of the companies have systematically siphoned off the funds from their accounts to other companies. Ganguly’s lawyers showed this as “urgency” for the matter to be heard immediately by the Bombay HIgh court.

Ganguly also sought a status quo and disclosure which the companies agreed to. During the hearing before Justice AK Menon on Monday, advocate Shardul Singh appearing for the companies said that they will disclose the assets by July 20, 2021, and that a status quo would be maintained.

There was a “Player Representation Agreement” between Ganguly and the companies through which they acted exclusively as his managers. But disputes started between the companies and Ganguly after which the agreement was terminated. Aggrieved by this, Ganguly invoked the arbitration clause in the agreement.

A three-member panel of arbitrators directed the companies to pay Ganguly Rs 14,49,91,000 together with interest at the rate of 12% per annum till the date of realisation of the amount. Ganguly then moved an application in the Calcutta High Court for the execution of the arbitral award.However, as the assets disclosed by the companies were not within the jurisdiction of the Calcutta High Court, thus the execution application was withdrawn and a fresh execution application was filed before the Bombay High Court. The companies are said to have paid Rs. 2,07,25,109 and so the fresh application is for the realisation of the balance.

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Rohit Pawar

An Independent I.T. Security Expert, Geek, Blogger & Passionate Programmer.