Good news for the Indian Premier League franchise Rajasthan Royals and all its supporters. The Bombay High Court has today, Dec 14, upheld the six-week stay on the expulsion of the franchise. The move which has in a sense, ratified the judgement of the arbitrator who issued the stay, effectively allows the Royals to participate in the IPL player auctions scheduled to take place on Jan 8 and 9.
The court has issued the judgement with a couple of riders. Firstly, the franchise will have to disclose all its ownership details to the court and secondly, the owners of the team will have to file an affidavit in court stating that they still wield adequate authority over their respective companies. Finally, the Royals will have to deposit a security bond of $2.8 million.
The verdict comes on the heels of another favourable judgement - in the Kings XI Punjab case - where the court also granted that franchise interim relief subject to a few conditions.
On Oct 10, the BCCI terminated the contracts of both the Rajasthan Royals and the Kings XI Punjab for allegedly changing their ownership structure without intimating the board. The franchises which maintained that the ultimate ownership of their set-ups remained the same, took the BCCI to court and all three parties subsequently agreed to arbitration.
Both parties argued their case for three-and-a-half days after which the Justice BN Srikrishna, the agreed-upon arbitrator, ruled in Rajasthan's favour. The court's decision to uphold the verdict is a new lease of life for the franchise.