Ravindra Jadeja, VVS Laxman Not Paid Salaries By Defunct IPL Franchise, There's A Rs 538 Crore Connection

The controversy between the BCCI and now-defunct Indian Premier League (IPL) franchise Kochi Tuskers Kerala (KTK) is making new headlines everyday. KTK were a part of IPL in 2011, where they played 14 games and won only six. The BCCI terminated the franchise after just one season (2011), accusing the team of a contract breach after failing to submit a bank guarantee on time, which was required under the agreement. However, last week, the Bombay High Court, ordered BCCI to pay Rs 538 crore to KTK. After this news left everyone stunned, another report by Malayalam newspaper Mathrubhumi revealed that many big names like VVS Laxman, Ravindra Jadeja, Steve Smith are yet to receive their full and final payment from the Kerala-based franchise.

According to the report, KTK paid the players the first two installments of their salaries. However, they are yet to pay them their third installment, which was 35 percent of their respective salaries.

"Sri Lankan legend Mahela Jayawardene, who captained the Kochi franchise, was the team's most expensive signing at Rs 6.80 crore. It is reported that over Rs 2 crore is still due to him-excluding accumulated interest over the years. Current England head coach Brendon McCullum, signed for Rs 2.15 crore, is still owed approximately Rs 75 lakh," stated the report.

"Other notable names awaiting payment include former India interim head coach VVS Laxman, Gujarat Titans assistant coach Parthiv Patel, Australian batter Steve Smith, and Indian all-rounder Ravindra Jadeja. Even local Kerala players like S. Sreesanth, Raiphi Vincent, Prasanth Padmanabhan, and Prashanth Parameswaran are among those left unpaid," stated further.

Talking about the Bombay High Court ruling, in 2015, the BCCI was asked to pay Rs 550 crore -- 384 crore to KCPL and 153 crore to Rendenzvous sport -- to IPL franchise Kochi Tuskers after an arbitration ruled in favour of the team recently. The BCCI had challenged the tribunal's verdict in court.

The franchise which was bought for a whooping Rs 1,550 crore a year ago defaulted on their annual payment after which the BCCI terminated their contract in 2011. The franchise won the case against the BCCI and the court ordered the board to pay Rs 550 crore.

"The jurisdiction of this Court under Section 34 of the Arbitration Act is very limited. BCCI's endeavour to delve into the merits of the dispute, is in teeth of the scope of the grounds contained in Section 34 of the Act. BCCI's dissatisfaction as to the findings rendered in respect of the evidence and/or the merits cannot be a ground to assail the Award," the court said in its ruling last week.

(With agency inputs)