India, June 18 -- In a setback for the Board of Control for Cricket in India (BCCI), the Bombay High Court on Tuesday refused to interfere with two arbitration awards, directing the cricket controlling body to pay Rs.385.50 crore to Kochi Cricket Private Ltd (KCPL) and Rs.153.34 crore to Rendezvous Sports World (RSW) in connection with the Kochi IPL (Indian Premier League) franchise.

A single judge bench of Justice Riyaz Chagla rejected two arbitration petitions challenging separate arbitration awards passed in connection with franchise agreements executed with RSW in April 2010 and in March 2011 with KCPL - a joint venture between BCCI and RSW. Both the arbitral awards were passed on June 22, 2015.

On September 19, 2011, BCCI terminate...