New Delhi, November 20: The ICC's Dispute Resolution Committee (DRC) on Tuesday dismissed PCB's USD 70 million compensation claim against BCCI for allegedly not honouring a bilateral series agreement. After a three-day hearing, the three-member ICC panel headed by Michael Beloff, along with Jan Paulsson and Dr Annabelle Bennett rejected PCB's claim for compensation against BCCI and said the judgment is non-appealable.

“The Dispute Panel formed under the Terms of Reference of the ICC Disputes Resolutions Committee (DRC), the International Cricket Council has announced the outcome of the recent DRC proceedings between the BCCI and the PCB," said a press release by the governing body. India vs Pakistan Bilateral Series Tussle: BCCI's Anurag Thakur Says, ‘Have Done Nothing Wrong, Should Not Pay a Penny to PCB’.

“Following a three-day hearing and having considered detailed oral and written submissions, the Dispute Panel has dismissed the PCB’s claim against the BCCI. The judgement, which can be found here in full, is binding and non-appealable," the ICC added.

The PCB had contented that Memorandum of Understanding signed in 2014 by erstwhile BCCI secretary Sanjay Patel is binding. The MoU stated that cricket teams of India and Pakistan were supposed to play six series in eight years between 2015-2023.

Four of those series was supposed to be hosted by Pakistan that included 24 matches across three formats. The six tours would have constituted 56 games which included 14 Tests, 30 ODIs and 12 T20Is.

However, BCCI maintained that the contract is no longer legally binding as PCB didn't support BCCI's 'Big Three' revenue sharing model where India, Australia and England would have got a bigger share of the profit pie.

(The above story first appeared on LatestLY on Nov 20, 2018 02:57 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).