High Court stays termination of Kings XI's IPL agreement

The Bombay High Court today stayed termination of Kings XI Punjab from the Indian Premier League (IPL).

Justice S J Vazifdar said going by the documents, Kings XI had "made out a strong case". The dispute will now go before a new arbitrator after Justice B N Srikrishna recused himself from the case.

The franchise will be able to participate in the players’ auction on January 8-9, 2011.

Kings XI will have to, however, furnish bank guarantees to make up for the losses the Board of Control for Cricket in India (BCCI) and its own players might suffer in case the arbitrator's award goes against it. Kings XI will also have to clear the dues of players for the previous IPL season.

Interestingly, Justice Srikrishna, who was the arbitrator in the dispute between BCCI and Rajasthan Royals, too, had observed that termination of Royals' agreement was illegal.

The court also recorded a statement made by Kings XI’s lawyer Darius Khambata that the present share-holding pattern of owners, which includes actor Preity Zinta and industrialist Ness Wadia, will not change and shares will not be sold without the court's or arbitrator's permission.