Baseline Ventures is learnt to have already sent a letter to the Executive Committee of VFI asking for time and date for a meeting.
Sources at Baseline said that the High Court order was a vindication of their stance on the totally unilateral and unjustified termination of the contract by VFI and Baseline were prepared to do whatever was best to take the PVL forward.
Last month, VFI had terminated the 10-year-agreement with Baseline Ventures, PVL co-owners, due to "breach of agreement" and announced that they were looking to do their own volleyball league.
Following this, Joy Bhattacharjya, CEO of Baseline Ventures, had rejected all the accusations of the company manipulating the accounts as made by VFI Secretary General Ramavtar Singh Jhakar and said that they would take legal action against the sport body.
"They cannot terminate the contract. They should first tell what mistakes we committed, giving us a time frame of 10 days to respond. If that doesn't happen, only then they can terminate the contract. It's illegal," Joy had told .
"A termination notice was received from the VFI with no substantiation on the reasons for termination. VFI didn't send us even a single query or email regarding what they consider as breach of agreement. They just said that they apprehend that the accounts are manipulated.
"Its complete injustice with Baseline Ventures," he added.
Last month, it was announced that the second edition of PVL would start from February 7, 2020 onwards. However, at their AGM in Jaipur on November 18, the VFI said "it has decided to amicably settle/(sent) termination notice to Baseline Ventures India Private Limited with immediate effect since they (Baseline Ventures) have breached the agreement."
( With inputs from IANS )