Visaka Industries wins cricket association dispute, set to enforce ₹25.92 crore award

Visaka Industries Limited announced that the supreme court of India dismissed a special leave petition (SLP) filed by the Hyderabad Cricket Association (HCA) on October 7, 2025. This decision upholds previous dismissals by the Telangana High Court and the Commercial Court, affirming an arbitration award in favor of Visaka Industries. The dispute stemmed from the HCA's alleged violation of a 2004 agreement concerning naming and advertisement rights for an international cricket stadium.

The arbitration award, initially passed on March 15, 2016, found the HCA liable. Subsequent challenges by the HCA under Section 34 and Section 37 of the Arbitration and Conciliation Act were dismissed on July 19, 2024, and June 25, 2025, respectively. With the supreme court's dismissal of the HCA's SLP, Visaka Industries is now entitled to enforce the arbitration award.

This resolution is expected to have a positive financial impact on the company, as it is entitled to an arbitration award of ₹25.92 crores plus interest. The company is taking steps to ensure the execution of this award.