The dispute arose from an agreement between the Volleyball Federation of India (VFI) and Baseline Ventures relating to the organisation and conduct of the inaugural Pro Volleyball League in India. An arbitral award was made on 21 November 2020.
By an order dated 17 February 2026, Justice N. Anand Venkatesh of the Madras High Court upheld that award. VFI was directed to pay Baseline Ventures ₹4 crore with interest at 12% per annum, bringing the total financial liability to a little over ₹7 crore.
Why it matters: the case illustrates two things commercial parties in Tamil Nadu should note. First, the Madras High Court continues to apply the restrained standard of review under Section 34 and does not rehear disputes decided by the tribunal. Second, interest running over several years between award and final decision can come close to doubling the liability.
The practical takeaway: the time value of an award matters. A party considering a challenge should weigh realistically its prospects under the narrow Section 34 grounds against the interest that will continue to accrue while the challenge is pending.
This note summarises the reported decision for general information and is not legal advice on any specific matter.