HCA Never Paid a Single Rupee to Visaka: Vivek Venkataswamy

Visaka Group Chairman and Minister Vivek Venkataswamy strongly refuted the allegations made by Guruva Reddy, describing them as baseless and misleading. He stated that Visaka has not received a single rupee from the Hyderabad Cricket Association (HCA) so far. Vivek recalled that his family had provided funds for the construction of the stadium after former leader Kaka Venkataswamy requested support when HCA was facing financial difficulties. He added that the conditions proposed by Visaka were accepted by the HCA Apex Council and General Body at that time.

Vivek further explained that after the IPL rights dispute in 2011, then HCA President Arshad Ayub had proposed a settlement of Rs. 17 crore, and both HCA and Visaka jointly submitted an affidavit before the court. However, the agreement was never implemented. He announced that Visaka has already issued defamation notices to Guruva Reddy and is preparing to file a defamation suit. Alleging that influential political leaders are backing the TCA, Vivek claimed that false accusations are being made against him due to his rural development initiatives carried out in the name of Kaka Venkataswamy.