Just before the Indian Premier League (IPL) 2025, the Enforcement Directorate (ED) has accused the Hyderabad Cricket Association (HCA) of fund misappropriation. The ED has attached immovable property worth ₹51.29 lakh belonging to HCA.
The ED’s investigation revealed that funds meant for equipment and construction at the Rajiv Gandhi International Cricket Stadium were misused. Instead of being utilized properly, these funds were used to purchase cricket balls, gym equipment, and bucket chairs at inflated prices. Moreover, Sara Sports, Excellent Enterprises, and Body Drench India supplied these items at higher rates, and consequently, the profits were transferred to Surender Agarwal, HCA’s former vice president and treasurer.
Surender Agarwal’s family members were also involved. Sara Sports transferred ₹17 lakh to KB Jewellers, owned by Surender’s wife, and to his son Akshit Agarwal’s account. Excellent Enterprises deposited ₹21.86 lakh to Akshit’s account, disguised as a loan. The remaining amount was used for diamond purchases through KB Jewellers.
Body Drench India also inflated the prices of gym equipment, with ₹52 lakh circulating through the personal accounts of Surender Agarwal, his daughter-in-law, and KB Jewellers. In total, ₹90.86 lakh has been identified by the ED as Proceeds of Crime (POC).
IPL 2025 Matches in Hyderabad to Proceed Smoothly
Despite the ongoing controversy, IPL 2025 matches at the Rajiv Gandhi International Cricket Stadium will proceed as planned. Hyderabad is set to host its first match between Sunrisers Hyderabad and Rajasthan Royals on March 23 at 3:30 PM IST. The tournament will kick off with defending champions Kolkata Knight Riders facing Royal Challengers Bangalore on March 22 in Kolkata.
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