Indian Cricket Board, BCCI has slapped a penalty of Rs 52.24 crore by regulator Competition Commission, following charges of abusing its dominant position with violation of norms.
According to reports, Board of Control for Cricket in India (BCCI) found guilty on it, accepting connection in anti-competitive practices.
The amount of penalty imposed to BCCI is 6% of its average annual revenue (Rs.870.78 crore) for the three years, 2007 to 2010, which has to deposit within 90 days from the CCI order declaration.
Following its alleging role for misuse its position, now BCCI has unable to access market as Indian Fair Trade regulator asked to “cease and desist” from any practice in future, even not use its regulatory powers while taking any decision on its commercial activities.
“…The abuse by BCCI was of a grave nature and the quantum of penalty that needs to be levied should be commensurate with the gravity of the violation,” CCI ordered today, sources said.
It has also said that BCCI had misused its position by setting a policy to keep out other competitors and has blocked players who could have opted for the competitive league such as the Indian Cricket League started by Subhash Chandra- promoted by Essel Group, as per source .
Competition Commission’s order came following the complaint filed by a Delhi-based cricketer fan, Surinder Singh Barmi against BCCI in November 2010. His allegations were irregularities in the grant of Indian Premier League franchise and the Twenty20 league conducted by BCCI.
“BCCI knowing this had foreclosed the competition by openly declaring that it was not going to sanction any other event. BCCI undermined the moral responsibility of a custodian and de facto regulator,” CCI said, observing BCCI wrong doing,