The Royals had moved the High Court last month after the BCCI terminated their franchisee contract on the grounds that the Royals changed their share-holding pattern without informing the BCCI. The arbitration order means the Royals will be able to function as an IPL franchisee at least for the next six weeks.
It also means the Royals will be able to take part in the players' auction for IPL IV, scheduled for January 8 and 9.
“There will be no interference with them (Rajasthan) exercising rights under the franchise agreement,” Srikrishna ordered. “They will be allowed to participate in the auction.”
A fortnight back, the Royals and the BCCI had agreed to take the dispute over contract termination to an arbitrator and appointed justice Srikrishna as the sole arbitrator.
The Board had also terminated the contract with of Kings XI Punjab. Both the franchisees were shown the door on October 10 by the BCCI, which led the Royals to move the High Court against the Board, challenging the latter’s unilateral decision to terminate their contract.
