Visaka Industries Ltd, which was the first sponsor to help Hyderabad Cricket Association (HCA) construct the Rajiv Gandhi Stadium at Uppal, asserted on Friday that the HCA should pay compensation according to the agreement between the two in 2004.
K. V. Soorianarayan, Visakha Company secretary-cum-advisor, reiterated that the money given to HCA was purely on commercial basis and in return the HCA signed an agreement. “Visaka is entitled for these rights irrespective of the type of match held as is clearly mentioned in the Clause 2 (A) ix which states for the removal of doubts, it is expressly agreed and stated here that the places\space and facilities aforesaid shall be reserved for the exclusive use of the company and at all times irrespective of whether there is or there is not any match or other event being held or conducted or taking place in the said stadium,” it is explained.
The company secretary reminded that since this understanding was not being implemented the matter had gone to court and even the Supreme Court gave orders in favour of Visaka Industries.
As the matter stands sub-judice, all parties have to follow the orders of the Supreme Court, he insisted.
