The Volleyball Federation of India failed to deposit fee of Rs 2 crores on October 29, basis non-compliance to conditional order, to Madras High Court in order for the court to hear their petition challenging the earlier arbitration judgement awarded in favour of Baseline ventures. The amount now stands at INR 6 crores, which VFI needs to pay to Baseline Ventures. Additionally stay application by VFI has been dismissed by the court.
This is basis prior order in a case delivered by sole arbitrator, Justice K. Kannan (Retd.) set up on the orders of the Madras High Court, on Baseline Venture(India) Pvt Ltd’s claim against the termination of their agreement by the Volleyball Federation of India on Nov 18, 2019. The National Federation were to pay Rs. 4 Crores as compensation and Rs. 5 lakhs in legal fees. In addition, a 12 per cent interest was also levied from the date of commencement of arbitral proceedings till the date of payment.
The landmark judgement was delivered by Justice Kannan after almost ten months of hearings and submissions by both parties. All the allegations by VFI against Baseline pertaining to the breach of contract were dismissed and it was categorically stated that the termination was not justified. The judgement stated that if VFI only had the interest of the players in mind and for fostering the sport as a popular entertainment to the public, it ought to have known that there was too big a price to close all options and terminate the agreement.
The judgements further dismissed the counter claim of Rs. 14.93 crores made by the VFI against Baseline Ventures.
The two bank accounts of VFI in the Indian Overseas Bank, Chennai have already being attached to the court of the Chennai High Court for the recovery of the arbitration award to Baseline.
VFI faction led by Ramjakhar & its new secretary general Anil Choudhary is already engaged in multiple legal battles with BJP MP Anil Agarwal with respect to which faction of VFI is the deserving group to carry on office after 2 elections were held by them in 2020.
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