Chennai, February 19 The Madras High Court has dismissed a plea by VFI challenging an arbitration award of Rs 4 crore awarded against it, to be paid to Pro Volleyball League promoters, Baseline Ventures.
Refusing to intervene in the arbitration award directing the Volleyball Federation of India (VFI) to pay Rs 4 crore as lost 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 February 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 a cost of Rs 2.5 lakh payable to Baseline Ventures.