HC dismisses HCA’s appeal over arbitral award to Visaka Industries

The Supreme Court of TaLangana rejected a appeal application by the Haydarabad Cricket Association and objected to the 25,92 Crore Arbitration award adopted by the Local Commercial Court in favor of Vishaka Industries.

Justices Moushumi Bhattacharya and Br Madhususidhan Rao said that HCA could not justify any justification for the intervention of the objections by the Commercial Court in 2024.

The dispute between HCA and M/S Visaka Industries emerged in 2004 on an agreement. According to the agreement, Visaka Industries are in -stadia advertising rights for the construction of an international cricket stadium in Uppal Kancha in Haydarabad. Before IPL matches in 2008, HCA stated that she could not honor Visaka according to the 2004 agreement and that she was not binding to the BCCI-EPL regulation. Visaka carried the lower court to prevent HCA from refusing advertising rights during the IPL matches. While the case was prolonged, HCA wrote a letter to Visaka in 2011 that the 2004 agreement terminated the agreement due to impossibility of performance.

Finally, in 2016, Visaka was awarded 25.92 Crore Arbitration Award. The same was objected by HCA, who rejected it in commercial court. HCA opened its current appeal against the commercial court decision. Even in the current appeal, the counter decided that HCA was never tending to provide legal security for the remaining award, but it is only an unfair and short -lived advantage over Visaka, but testing its chances at all levels.

(EOM)