1. By this Petition under section 9 of the Arbitration & Conciliation Act, 1996 (hereinafter referred to as “Act”), the petitioner seeks stay of the termination of Franchise agreement by letter dated 14th September, 2012 and the subsequent decision of the Working Committee of the Board of Control for Cricket in India (hereinafter referred to as “BCCI”) dated 15th September, 2012 confirming the same. The Petitioner also seeks status quo order against the parties and injunction against BCCI from acting upon the tender notice issued on 14th October, 2012 and or providing any party with the invitation to tender in respect of the franchise for the City of Hyderabad.

2. The relevant facts in the matter are briefly set out hereunder:

In and around 2007, the BCCI conceptualised a tournament to be called “Indian Premier League” which would involve competition between various teams of Twenty-20 format of cricket. A sub committee of the respondent known as Indian Premier League managed by a separate governing council, was setup/established to oversee the operation of the league, which in turn, ultimately reports to BCCI. The IPL/BCCI conceived that private individuals/companies shoul