Visaka Industries director refutes claims
The agreement mainly envisaged naming of the stadium as Visaka International Cricket stadium in addition to other benefits.
Hyderabad: The Visaka Industries Director Valinath hit back on Wednesday and denied all the allegations made by V. Hanumantha Rao and Hyderabad Cricket Association secretary T. Sheshnarayan.
“The statements made my Hanumantha Rao and Sheshnarayan are not based on facts and are their wild imaginations,” read the press release issued on behalf of the Visaka Industries.
The release read, “We entered into agreement with HCA for certain advertisement benefits to the company in exchange of the sponsorship. The agreement mainly envisaged naming of the stadium as Visaka International Cricket stadium in addition to other benefits.
“However, subsequently HCA approached us and sought a modification and wanted us to give up naming it as Visaka International Cricket Stadium and that the Government of the state wanted it to be named as Rajiv Gandhi International Cricket stadium. We even agreed to the same.”
Valinath alleged that the HCA, despite court’s order, continued to violate the agreement and has defaulted the compensation amount of '17.5 crore which was mutually agreed by both the parties — Visaka Industries and the Hyderabad Cricket Association.