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|SC refuses to vacate stay on HCA stadium |
Wednesday, February 25 2004 15:27 Hrs (IST)
A bench headed by Chief Justice V N Khare dismissed an application filed by the HCA general secretary and one of the national selectors Shivlal Yadav seeking vacation of the stay.
The stay was granted in favour of Indian Bank which had moved the Court alleging that the stadium could not be built at Uppal Mandal area in Hyderabad as the land was in itspossession after being mortgaged by Penguin Textiles Ltd, which owed money to it.
Yadav, who was in intense consultation with the lawyers after the interim order of the apex court, said that he hoped that the dispute would be settled soon allowing resumption of construction work.
Asked whether he was hopeful of hosting a match between India and Australia in November at the new venue, he said, "we are quite hopeful that the stadium will be completed by then to host the match." HCA has already spent over Rs seven croresin the construction activity.
Indian Bank had approached the Supreme Court against the compromise order passed by the High Court of Andhra Pradesh saying though the land was mortgaged to it by the debtor, it was not made a party to the compromise worked out between the parties.