 "We cannot be held responsible for arbitration impasse: BCCI")
The BCCI today rejected Sahara Group's claim that it had failed to expedite the arbitration process to reduce franchisee fee, saying that it has acted as per the rules and was not responsible for the situation.
A day after Sahara Group pulled out of the IPL, citing BCCI's decision to encash its bank guarantee following a prolonged financial dispute, the BCCI came out with its version saying that they have always wanted the impasse to end.
The Board said it has not received any direct communication from the franchisee, Sahara Adventure Sports Limited, on the pull out decision but confirmed that it had encashed a part of due franchisee fee of Rs 120 crore for the year 2013.
"No payment was made and no response was received to the second letter and so, in order to protect its interests, the BCCI was forced to encash the guarantee," BCCI Secretary Sanjay Jagdale said in a statement.
Sahara had accused that the arbitration process on the issue of reduction of franchisee fee had not seen any progress due to BCCI's inflexible approach but BCCI said it was the business group which was responsible for this.
A day after Sahara Group pulled out of the IPL, citing BCCI's decision to encash its bank guarantee following a prolonged financial dispute, the BCCI came out with its version saying that they have always wanted the impasse to end.
The Board said it has not received any direct communication from the franchisee, Sahara Adventure Sports Limited, on the pull out decision but confirmed that it had encashed a part of due franchisee fee of Rs 120 crore for the year 2013.
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"The IPL Governing Council met with representatives of the franchisee on 21 February 2013 and received assurances that the franchisee would settle all obligations as they fell due. Once the 3 April 2013 due date had passed, the Governing Council had two letters sent to Sahara Adventure Sports Limited - one on 12 April 2013 and the second on 24 April 2013 - requesting settlement of the overdue amount.
"No payment was made and no response was received to the second letter and so, in order to protect its interests, the BCCI was forced to encash the guarantee," BCCI Secretary Sanjay Jagdale said in a statement.
Sahara had accused that the arbitration process on the issue of reduction of franchisee fee had not seen any progress due to BCCI's inflexible approach but BCCI said it was the business group which was responsible for this.