Funds Transferred to Visaka on Court Orders, Says HCA

Hyderabad: Hyderabad Cricket Association president Amarnath on Tuesday said that Rs 63.73 crore was paid to Visaka Industries as compensation in a case related to the renaming of its stadium at Uppal in compliance with an arbitral award.

Speaking to reporters, Amarnath said Visaka Industries had won the case against the HCA in a commercial court in November 2025, which issued a Rs 68.73 crore arbitral award. The amount was transferred before he took charge as new president on February 2. He clarified that the amount was transferred directly from the freezed account as per the court orders.

He was accompanied by former Indian cricketer Shivlal Yadav, and HCA joint secretary T Basava Raju during the media conference.

Explaining the case, Amarnath said a sponsorship agreement was signed between HCA and Visaka Industries in 2004 for naming and advertising rights in lieu of Rs 6.5 crore. Though the stadium was initially supposed to be named after Visaka, it was later renamed pursuant to government advice, and the agreement was terminated during the tenure of Arshad Ayub in 2011.

“Visaka Industries challenged the termination and finally won the award. As HCA failed to comply with judicial orders, execution proceedings were initiated, and the commercial court directed Canara Bank to freeze HCA’s accounts,” he explained.

When HCA officebearers were giving details about the case, the members of Telangana District Cricket Association, led by its president Allipuram Venkateshwar Reddy and others, staged a flash protest at Gymkhana Cricket Grounds. They raised slogans against the HCA officerbearers and Shivlal Yadav.

Venkateshwar Reddy accused HCA of illegally diverting funds given by the BCCI for the cricket development and welfare of cricketers to other purposes. However, police intervened and shifted them out of the cricket grounds.