The ICC confirmed that the decision was binding and non-appealable.The hearing which took place from October 1-3 in Dubai had PCB claiming damages in the tune of United States dollars 70 million stemming from BCCI's failure to play two series in November 2014 and December 2015."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 International Cricket Council's (ICC) dispute panel on Tuesday dismissed Pakistan Cricket Board's (PCB) compensation claim against Board of Control for Cricket in India (BCCI) for allegedly failing to honour a Memorandum of Understanding (MoU) on bilateral series. "It follows inexorably that the PCB's claim must fail".
"PCB case against BCCI dismissed by dispute panel", the ICC posted on its official Twitter page.
The primary reason for the BCCI's refusal to tour is political.
"I'm particularly very appreciative of the efforts of the BCCI Legal team, the Cricket Operations team and the CEO who represented us".
The BCCI said it did not have government approval to play against Pakistan and engaged former external affairs minister Salman Khurshid as a witness in the inquiry conducted in Dubai last month.
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India and Pakistan play only at multi-nation tournaments organised by the ICC or the Asian Cricket Council (ACC).
The ICC panel did urge the two countries, with frosty diplomatic ties, to consider reviving bilateral cricket.
Rai said BCCI will now file a counter compensation case against the PCB to demand the cost of arbitration.
This was a major victory for the BCCI as the PCB had made a claim amounting to Rs 447 crores.
The PCB had sought the compensation for India not playing bilateral series against Pakistan since 2012. The last Test series, also in India, was played in 2007.