Ganguly moves court for ₹ 36 crores compensation from former management company

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Sourav Ganguly has taken his former managers to court for recovery of an arbitration award
Sourav Ganguly has taken his former managers to court for recovery of an arbitration award.

Board of Control for Cricket in India (BCCI) president Sourav Ganguly has moved the Bombay High Court for implementation of an arbitration tribunal award in 2018.

The former India skipper was awarded a compensation of ₹ 36 crores by the arbitration tribunal. The amount was to be paid by Ganguly’s former managers Percept Talent Management Ltd and Percept D Mark (India) Ltd.

Ganguly, according to an Insidesport report, has also sought and interim order to restrain the defendant from carrying out any transactions on their properties. It is pleaded that the directors of the defendant companies have siphoned off funds from their accounts to other firms.

Advocate Shardul Singh, appearing for the defendants, has submitted that the companies will disclose the assets by July 20.

The arbitration was invoked out of a Player Representation Agreement, which gave the respondents exclusive talent management rights of Ganguly.

Ganguly had invoked the arbitration after Percept terminated the agreement over a dispute.

The arbitration had passed an award of Rs. 14,49,91,000 in Ganguly’s favour. Percept were also asked to pay an interest at the rate of 12% per annum from November 21, 2007 till the realization of the payment.

The company, according to Ganguly’s counsel, had paid only a little over ₹ 2 crores. The outstanding including the interest now stands at more than ₹ 36 crore, stated the petition.

Ganguly has sought the intervention of the High Court for realisation of the amount. The matter has been listed for July 26.