Overview

• Justices Moushumi Bhattacharya and BR Madhusudhan Rao dismissed HCA’s appeal, confirming Visaka’s entitlement to ₹25.92 crore plus interest and costs.
• This ruling brings final closure to a dispute dating back to a 2004 agreement granting Visaka exclusive naming and advertising rights at Rajiv Gandhi International Cricket Stadium.
• The court ruled that HCA’s allegations of economic duress and conflict of interest against past office-bearers lacked credible evidence.
• The arbitral tribunal’s award sustained liquidated damages set at six times the initial ₹6.5 crore naming rights payment in line with Sections 73 and 74 of the Indian Contract Act.
• Objections to arbitrator MR Vikram’s appointment over alleged conflict of interest were dismissed after the court found full disclosure had been made in 2011.