India, June 18 -- The BCCI were dealt a massive setback on Tuesday, as the Bombay High Court upheld arbitral awards exceeding Rs.538 crore in favour of the owners of now-defunct IPL franchise Kochi Tuskers. A single judge (Justice R.I. Chagla) presided on the BCCI vs Kochi Cricket Private Limited and others case, and dismissed the Indian cricket body's challenge to the arbitral awards. The judge ruled that the court could not act as an appellate authority over the arbitrator's findings.

The court observed, "The jurisdiction of this Court under Section 34 of the Arbitration Act is very limited. BCCI's endeavour to delve into the merits of the dispute is in teeth of the scope of the grounds contained in Section 34 of the Act. BCCI's dissat...