Indian Olympic Association (IOA) president PT Usha today refuted the claims made by Treasurer Sahdev Yadav in the CAG report. The CAG in its report found that IOA suffered a loss of Rs 24 crore in the sponsorship deal with Reliance.
In response to this, Dr. Usha said on Tuesday that IOA has not suffered any financial loss. Usha said that this is a conspiracy to tarnish his reputation. He threatened to take legal action against those giving false information.
What was the CAG's charge? The CAG questioned the sponsorship deal between the Indian Olympic Association and Reliance. A deal was made for 6 events in 2022 for Rs 35 crore. Four more events were later added to the deal, but the IOA did not receive any additional money for these. CAG feels that IOA should get Rs 24 crore more for this.
The report said that when the deal with Reliance was finalized in 2022, it did not include two Winter Olympics and two Youth Olympics. Then IOA for 6 mega events Rs. The deal was finalized for 35 crores. That is, an amount of around 6 crore rupees was fixed for an event.
The deal has been extended for four more events in 2023, but no additional money has been charged. 6 crore rupees more should be given for each of these. That is, 24 crore rupees more should have been received, but it did not happen. IOA took only Rs.35 crore instead of Rs.59 crore.
Usha threatened to take legal action against the informer.
Attempt to discredit IOA A press release issued by the IOA stated that Dr. Usha refuted Sahadev Yadav's claim in the CAG report. In which it was alleged that he acted without the knowledge of the IOA Executive Council. According to Usha, these claims are part of a deliberate attempt to tarnish his reputation and malign the IOA.
The CEO was briefed fully about the deal Usha said due process was followed while renegotiating the deal with RIL. The deal agreement was drawn up under the supervision of Nandan Kamath of NK Law, Bengaluru, one of the leading lawyers in the sport. The CEO was fully informed about this.
Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).
