Chennai, Feb 19 The Madras High Court has dismissed a plea of VFI challenging a Rs 4 crore arbitral award granted against it, to be paid to Pro Volleyball League Promoters Baseline Ventures.
Refusing to interfere with the arbitral award directing the Volleyball Federation of India (VFI) to pay Rs 4 crore as loss of profits to Baseline Ventures, the former promoter of the Pro Volleyball League, the court held that the federation's termination of the 2018 agreement was unjustified.
Justice N Anand Venkatesh held that the award dated 21, 2020, did not suffer from "any perversity or patent illegality warranting the interference of this court."
Dismissing the federation's appeal, Justice Venkatesh on Tuesday imposed Rs 2.5 lakh a costs payable to Baseline Ventures.
