Other Sports

VFI ordered to pay Baseline Ventures ₹4 crore

The Volleyball Federation of India (VFI) has been ordered to pay ₹4 crore as compensation and ₹5 lakh as legal fees to Baseline Ventures (India) Pvt. Ltd. after it was adjudged that the sports body had wrongfully terminated the company’s contract for conducting the Pro Volleyball League. The VFI had hired Baseline Ventures to run the professional league for ten years but ended the association after the inaugural season in 2019.

The 50-page order of sole arbitrator Justice K. Kannan (Retd.), appointed by the Madras High Court, also instructs the VFI to pay Baseline Ventures 12% interest on the compensation awarded, calculated from the date of commencement of arbitral proceedings to the date of payment. This works out to approximately ₹45 lakh in interest payment as of today.

Further, Justice Kannan dismissed the VFI’s counter claim of ₹14.93 crores against Baseline Ventures. However, the firm will hand over the Intellectual Property Rights of the Pro Volleyball League to the VFI.

Ramavtar Singh Jakhar, the VFI secretary at the time the case was filed, said he would file an appeal against the order at the Madras High Court “at an opportune time as there are quite a few contradictions in [it].”

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

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Printable version | Jan 19, 2021 8:23:44 PM | https://www.thehindu.com/sport/other-sports/vfi-ordered-to-pay-baseline-ventures-4-crore/article33163363.ece

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