Chennai, Feb 19 (.) The Madras High Court has upheld an arbitral award dated 21 November 2020 in relation to a commercial dispute arising out of an agreement for the organization & conduct of 2019 Pro Volleyball League, ordered Volleyball Federation of India (VFI) to pay dues amounting to over Rs. 7 Crores as on date to Baseline Ventures.
Passing the oders, Justice N Anand Venkatesh dismissed the petition filed by VFI under Section 34 of the Arbitration and Conciliation Act, 1996 challenging the award.
In its ruling, the court noted that the arbitrator’s findings were based on a careful interpretation of contractual provisions, evaluation of evidence, and well-established legal principles governing arbitration.
With the dismissal of the petition, the arbitral award stands confirmed and as a result, the VFI have been ordered to pay Rs. 4 Crores with 12% interest from commencement of arbitral proceedings till payment, Rs. 5 lakhs arbitration costs, and Rs. 2.50 lakhs additional payment as court costs amounting to a little over Rs 7 Crores as on date.
Reacting to the court order, Tuhin Mishra, MD & Co-Founder, Baseline Ventures said, “From day one, we knew that Baseline has been on the right side & were wrongly treated. We always have full faith in our judicial process and our fight was not just a fight for our own reputation but we were fighting for the rights of the volleyball players of India & for the sport in general. This is a positive moment for everyone who believes sport must always put athletes and it’s ecosystem first.”
The professional league was created to build a professional platform for players, coaches and its fans, and it is heartening to see our vision being upheld in the court of law. We only hope this serves as a reminder that the growth of any sport depends purely on decisions made in the interest of its players, coaches and the overall ecosystem, he said.
. GV 2055