Nimbus: We complied by contractual obligations

Dec 14, 2011, 10:03 IST | IANS
Sports broadcaster Nimbus, whose contract with the Indian board was terminated Monday on grounds of defaulting payments, said yesterday that it had "acted in compliance of its contractual obligations".

The Board of Control for Cricket in India (BCCI) terminated its contract, that ran till 2014, and also seized the bank guarantee amount of Rs 2,000 crore, after Nimbus defaulted on payments.

Nimbus also failed to pay the BCCI 50 percent advance payment for both the England and the West Indies series "Given the confidentiality provisions of such contracts, Nimbus is unable to discuss details with the media, but can confirm that it has acted in compliance of its contractual obligations and variations agreed between the parties from time to time," Nimbus said in a statement.

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