Telangana HC upholds Rs 26 crore arbitral award in favor of Visaka Industries, dismisses Hyderabad Cricket Association (HCA) appeal
HYDERABAD: Brushing aside allegations of undue influence and coercion against Visaka Industries, a division bench of Telangana high court on Thursday dismissed an appeal filed by the Hyderabad Cricket Association (HCA) challenging an arbitral award in their (Visaka) favour.
A bench of Justice Moushumi Bhattacharya and Justice B R Madhusudhan Rao upheld the Commercial Court's order of July 2024 refusing to set aside the arbitral award of nearly Rs 26 crore in favour of Visaka Industries. The bench also found fault with HCA for being unfair towards Visaka Industries.
The dispute arose in 2011 when HCA terminated its agreement of Oct 16, 2004, under which Visaka Industries was granted exclusive in-stadia advertisement rights at the Uppal International Cricket Stadium in Hyderabad.
The 2004 agreement had allowed it to name the stadium as 'Visaka International Cricket Stadium' and display its branding during matches.
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CA terminated the agreement citing helplessness in light of the Board of Control for Cricket in India (BCCI) restrictions during Indian Premier League (IPL) matches. This led Visaka to initiate arbitration, leading to an award in its favour in 2016. This was challenged by HCA.
On Thursday, the HC bench said there was no evidence to support the allegation that the agreement was signed under pressure from two individuals - G Vinod and Dr G. Vivekanand - who held positions in both HCA and Visaka. The court rejected this claim noting that HCA had honoured the agreement for seven years before raising objections and failed to provide any evidence of coercion.
HCA challenged the appointment of MR Vikram as an arbitrator, claiming a conflict of interest since he was a partner at a firm that audited Visaka.
The court found that full disclosure was made in 2011, and HCA had waived objections by participating in arbitration without protest.
The court upheld the Rs 26 crore compensation, calculated as six times the consideration paid by Visaka, as a genuine pre-estimate of damages under Section 74 of the Indian Contract Act, 1872. The bench said the actual loss was difficult to quantify, given the massive visibility Visaka lost due to HCA's breach.
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