Calling the termination of now-defunct IPL franchise Deccan Chargers as illegal, an arbitrator on Friday (July 17) awarded over Rs 4,800 crore to Deccan Chronicles Holding Ltd (DCHL) in its dispute against the Board of Control for Cricket in India (BCCI), reported PTI.

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When the BCCI came up with the concept of Indian Premier League in 2008, DCHL was declared as successful bidder for Deccan Chargers franchise from Hyderabad. There was an agreement signed between Deccan Chargers and the BCCI for 10 years.

But on August 11, 2012, the BCCI issued a show-cause notice for termination of the franchise to DCHL and the termination was confirmed a day before expiry of the 30-day period granted to respond to the notice, the lawyer said.

Subsequently, DCHL approached the Bombay High Court alleging that the termination was random. In September 2012, the HC appointed retired Supreme Court Justice C K Thakker as the sole arbitrator to give a verdict on the matter.

"The sole arbitrator on Friday upheld the termination to be illegal and granted damages to the tune of Rs 630 crores and compensation to DCHL to the tune of Rs 4160 crores.

"DCHL has also been granted Rs 36 crore as an admitted amount payable under the Franchise Agreement," said Maneesha Dhir, Managing Partner of Dhir & Dhir Associates, who appeared for DCHL.

The BCCI now has the option to challenge the arbitrators order before the Bombay High Court.

(With PTI inputs)