Volleyball Federation Of India To Pay Sports Management Company Rs 4 Crore For Terminating Contract | Volleyball News

Volleyball Federation Of India To Pay Sports Management Company Rs 4 Crore For Terminating Contract | Volleyball News

November 23, 2020 Off By admin





The Volleyball Federation of India (VFI) has been ordered to pay Rs 4 crore as compensation to Baseline Ventures for terminating its contract with the sports activities occasion administration firm for conducting the Pro Volleyball League. In an award delivered by sole arbitrator Justice (retd) Ok Kannan, the VFI has additionally been ordered to pay Rs 5 lakh authorized price and 12 % curiosity from the date of graduation of arbitral proceedings, Baseline Ventures stated in a launch on Monday. The arbitrator was appointed on the orders of the Madras High Court.

The first season of the PVL was held final 12 months however the VFI and Baseline Ventures, who had signed a ten-year contract to conduct the league, received embroiled in a dispute.

“All the allegations by VFI against Baseline pertaining to the breach of contract have been dismissed and it has been categorically stated that the termination was not justified,” Baseline Ventures stated.

“…it ought to have known that there was too big a price to close all options & terminate the agreement.”

Baseline Ventures additionally stated that the judgement additional dismissed the counter declare of Rs 14.93 crore made by the VFI in opposition to it.

The firm additionally stated that primarily based on an earlier judgement, VFI was to pay up Rs 2.25 crore to Baseline, which was acquired in February this 12 months.

Ramavtar Singh Jakhar, who was the VFI secretary basic when the dispute arose, stated the federation is submitting an enchantment in opposition to the choice of the arbitrator.

Also Read:  Delhi Capitals Coach Ricky Ponting Arrives In Dubai For IPL 13 | Cricket News

“The VFI is definitely filing an appeal. I have briefed the new office bearers about the matter and the VFI executive committee will soon take a decision on how to file the appeal,” Jakhar instructed PTI.

Member of Parliament Achyuta Samanta and Anil Choudhary have been lately elected as president and secretary basic of the VFI.

Promoted

Baseline vice-president Joy Bhattacharjya, who helmed the league in its first season, stated, “This judgement is a total vindication of the fact that the VFI had absolutely no grounds to terminate the contract after a successful season.

“It’s essential that they’re held accountable not simply to us, however to all of the volleyball gamers and coaches who have been essentially the most impacted by their wilful actions. This is a victory for honest play in Indian sport.”

Topics talked about on this article



(This story has not been edited by Newslivenation workers and is auto-generated from a syndicated feed.)