HCA approaches Telangana High Court seeking defreezing of the stadium
The telangana High court has been contacted by the hyderabad Cricket Association (HCA), which will host some world cup matches in its uppal stadium, in order to request the defreezing of the stadium and bank accounts that a lower court had attached. The HCA administrator, Justice Lavu Nageshwara Rao, a former judge of the supreme court, challenged the rulings of the Rangareddy district court at LB nagar in a commercial executive petition brought by Visaka industries, a company run by bjp leader G. Vivekanand.
The Rangareddy court issued an order on september 22 to seize all of the HCA's assets, including its bank accounts. According to Visaka industries, it received favourable arbitration tribunal rulings in 2016 that ordered the HCA to pay Rs. 25,92 crore in damages for breaking the terms of the development agreement at the time the uppal stadium was constructed in 2004. These damages included interest at 18% per year and costs from the date of the award until realisation. The Rangareddy court was contacted by Visaka industries because these instructions had not been followed.
The supreme court appointed Justice nageswara rao (ret.) as the administrator and issued a general restraint order under Article 142 prohibiting all courts from passing orders that would interfere with his efforts to purge the HCA, according to Vangala Ramachandra Goud, the attorney on record for the HCA and its administrator. He claimed that the lower court orders were contrary to those of the supreme Court. Goud said that the freeze had rendered the administrator useless and added that it amounted to interfering with the single-man committee's ability to carry out its duties after being constituted by the supreme court. In addition, he emphasised that the executive petition was submitted by visakha Industries just 10 days before the lower court imposed the orders.
The Rangareddy court issued an order on september 22 to seize all of the HCA's assets, including its bank accounts. According to Visaka industries, it received favourable arbitration tribunal rulings in 2016 that ordered the HCA to pay Rs. 25,92 crore in damages for breaking the terms of the development agreement at the time the uppal stadium was constructed in 2004. These damages included interest at 18% per year and costs from the date of the award until realisation. The Rangareddy court was contacted by Visaka industries because these instructions had not been followed.
The supreme court appointed Justice nageswara rao (ret.) as the administrator and issued a general restraint order under Article 142 prohibiting all courts from passing orders that would interfere with his efforts to purge the HCA, according to Vangala Ramachandra Goud, the attorney on record for the HCA and its administrator. He claimed that the lower court orders were contrary to those of the supreme Court. Goud said that the freeze had rendered the administrator useless and added that it amounted to interfering with the single-man committee's ability to carry out its duties after being constituted by the supreme court. In addition, he emphasised that the executive petition was submitted by visakha Industries just 10 days before the lower court imposed the orders.