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Hyderabad In Trouble! ED Sends Fraud Notice Just Before IPL 2025 Commencement

Arnav Chopra

Rajiv Gandhi International Cricket Stadium (Source: @IPL/X.com)Rajiv Gandhi International Cricket Stadium (Source: @IPL/X.com)

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Right before the Indian Premier League (IPL) 2025, the Hyderabad Cricket Association (HCA) has been accused of misappropriation of funds by the Enforcement Directorate (ED). The ED has attached ₹51.29 lakh worth of immovable property in the HCA’s name relating to the case.

HCA In Deep Waters As The ED Puts Out The Notice

In a massive news coming from Hyderabad right before the start of the 18th edition of the Indian Premier League 2025, the Hyderabad Cricket Association has been put on notice by the Enforcement Directorate for mishandling the funds allotted for equipment and construction at the Rajiv Gandhi International Cricket Stadium in Hyderabad.

However, it has come to notice that those funds were used inappropriately for ordering cricket balls, gym equipments, and bucket chairs which were marked as overpriced. Sara Sports Excellent Enterprises and Body Drench India bought these items at inflated prices, and the financial gains were transferred to Surender Agarwal, the former vice president and treasurer of HCA.

His family members were also involved in the scheme as the money was then transferred from these companies to the family members of Surender Agarwal. While Sara Sports transferred ₹17 lakh to KB Jewellers and Surender’s son Akshit Agarwal’s bank accounts, the Excellent Enterprises deposited ₹21.86 lakh to Akshit's account as loan amount.

“ED investigation revealed that as quid pro quo, Sara Sports transferred ₹17 lakh to KB Jewellers, a proprietorship firm of Surender Agarwal’s wife as well in the personal bank account of Surender Agarwal’s son, Akshit Agarwal by layering the same through the bank accounts of several entities on the pretext of sponsoring a music show, event management, etc.”

The rest of the amount was again deposited to KB Jewellers on the deal of purchasing diamonds. It is worth noting that KB Jewellers is registered under Surender Agarwal’s wife’s name as the owner of the firm.

Moreover, talking about Body Drench India, the price of the gym equipments were also blown up. ₹52 lakh was involved, which was moving around in the personal bank accounts related to Surender Agarwal, his daughter-in-law, and KB Jewellers and again, the involvement of diamond purchases were recorded.

In total, ₹90.86 lakh has been involved, which the ED claims to be the Proceeds of Crime (POC).

IPL Games In Hyderabad Will Go Ahead As Planned

Despite all the drama in Hyderabad, the planned games at the Rajiv Gandhi International Cricket Stadium are expected to go without any trouble.

The city is gearing up to host its first IPL 2025 game between Sunrisers Hyderabad and Rajasthan Royals on the 23rd of March, slated to be a day affair beginning at 3:30 PM IST. Whereas defending champions Kolkata Knight Riders will take on Royal Challengers Bangalore in the opening encounter in Kolkata on the 22nd of March.