Home » Indian federation loses court case, is ordered to pay more than half million US dollars

Indian federation loses court case, is ordered to pay more than half million US dollars

by WoV
source: businessworld.in

The Indian Volleyball Federation (VFI) suffered a major financial blow.

India-Men

India-Men

The VFI lost a court case against the sports marketing agency and media company Baseline Venture, operating in Mumbai and New Delhi among other locations, which will cost them more than half a million US dollars.

After almost 10 months of hearings and submissions by both parties, the judge determined that the VFI wrongfully terminated the contract with Baseline Venture and dismissed the counter-claim of the governing body of volleyball in India. The VFI has been ordered to pay Rs 4 crores (about $ 540,500) as compensation and Rs 5 lakhs ($ 6,700) in legal fees. With that, an additional 12 % interest from the date of the beginning of arbitral proceedings to the date of payment. That sum is Rs 45 lakhs ($ 60,800) at the moment.

The Baseline Venture Vice-President described the judgment as “victory of fair play in Indian sport.“

 

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