PRASAR BHARATI Vs. STRACON INDIA LTD. AND ORS.

JUDGEMENT

(1.) Present petition is filed under Sec. 34 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as 'Act') challenging an Award dtd. 26/12/2016 passed by the Arbitral Tribunal whereby Claim No. 2 of the respondents herein has been allowed. The Arbitrator has awarded USD 5,509,259 to the respondents along with interest pendente lite @ 18% p.a. from 19/10/2005 till the date of the Award. Cost of Rs.35,50,000.00 has also been awarded. Award is also challenged with respect to rejection of all the Counter Claims of the petitioner.

(2.) Brief and necessary facts to decide the challenge in the present petition are that the petitioner herein is a Government Corporation and has Broadcasting rights in India. On 25/9/1999, a Broadcast License Agreement was entered into between Board of Control for Cricket in India (hereinafter referred to as 'BCCI') and the petitioner whereby the petitioner was granted exclusive and full rights and licenses to telecast Cricketing Events worldwide comprising of International Matches (Test Matches and One Day International) and Domestic Matches played in India. The Agreement was for a period of five years with effect from 1/10/1999. Petitioner was also given full rights to assign or sub-license the programming to any Broadcasting Company to ensure maximum coverage of the matches.

(3.) Pursuant to the BCCI Agreement, the petitioner invited bids for marketing of the cricketing events in India and abroad. The bid of the respondents was accepted and the petitioner issued a Letter of Acceptance on 4/2/2000.