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IHC directs Nimbus to furnish bank guarantee
The court directed Nimbus Communications which owns sports channels like Neo Sports and Neo Cricket to furnish security within two weeks pending hearing of its dispute with Board of Control for Cricket in India (BCCI).
Observing that the BCCI has made out a strong case against Nimbus Communica-tions which has defaulted in paying its dues to the cricket body, the Bombay high court on Monday directed the channel to furnish bank guarantee of R 305 crore pending further hearing in the case.
The court directed Nimbus Communications which owns sports channels like Neo Sports and Neo Cricket to furnish security within two weeks pending hearing of its dispute with Board of Control for Cricket in India (BCCI).
“There is merit in the contention of BCCI. They (BCCI) have made out a strong case that Nimbus has defaulted on payments and Rs 305 crore is due,” a division bench of Justices DY Chandrachud and MS Sanklecha said.
The bench was hearing an appeal filed by Nimbus challenging an order passed by a single judge directing it to furnish guarantee pending hearing of its petition.
