Indian Olympic Association’s Loss Of Rs 26 Cr To RIL By Faulty Agreement Triggers The Internet: ‘Ambanis Ko Luta Dia’
Per a scathing new CAG Report, the PT Usha-led Indian Olympics Association (IOA) lost Rs 24 crore over its “faulty agreement” and “undue favor” to Mukesh and Nita Ambani-led Reliance Industries Limited (RIL). The audit report stated that RIL had been granted sponsorship rights with IOA as an official partner for the 2022 and 2026 Asian Games, 2024 Paris Olympics, and 2028 Los Angeles Olympics. The deed was signed in August 2022. Per the agreement, RIL also has the rights to construct the India House for the country and showcase during the aforementioned games. Per the CAG report, the Ambani venture also received additional rights via an amendment in December 2023 for Winter Olympics (2026, 2030), and Youth Olympics Games (2026, 2030). The CAG alleged that IOA did not watch its own interest while sanctioning these rights with no change in the consideration amount of Rs 35 crore even after providing additional rights to four more games to RIL. The amended amount should have been Rs 59 crores. The September 12th dated report estimates Rs 24 crore loss to the IOA “due to faulty agreement and undue favor to RIL.” IOA’s treasurer, Sahdev Yadav who is also the president of the Weightlifting Federation of India, remarked that RIL benefiting from the contract is not in the knowledge of the finance or sponsorship committee or even the executive board. Yadav demanded answers from the president of IOA as to why the agreement was changed and who signed the same.
Indian Olympic Association’s “faulty” sponsorship agreement with Reliance India Limited (#RIL) has given undue favour to RIL and led to a loss of ₹24 crore to #IOA, according to a CAG audit report.
Read more: https://t.co/aoOyg907UJ
Reports @tweet2avishek pic.twitter.com/J3avRsm6mD— Hindustan Times (@htTweets) October 5, 2024
Reactions poured in with netizens slamming the crony capitalists being hand in glove with the current dispensation. The internet blamed the nexus of Ambanis (and the Adanis as well) with the regime that awards plum projects to the richest billionaire family and their ventures. A user even asked if PT Usha pocketed some of this money. Netizens also wanted the media to highlight Nita Ambani, who is associated with the International Olympic Committee for the fiasco.
“Faulty” feels as “favoured” 😀😀— Samuel Kumar (@samuelkmk) October 5, 2024
Need to use her photo, not PT Usha’s. pic.twitter.com/mS2UFrlzTQ— Ramanan (@Ramanan_V) October 5, 2024
Jab PM hi Inka pay roll me rahte hain…this is not surprising at all.— #jaisamvidhan (@sibasisnanda) October 5, 2024
Olympics kam Reliance ka Tamasha jyada lag rha tha.
BJP gov ne Ambanis ko Luta diya desh ke Medals bhi aur paisa bhi. https://t.co/JdepjRpEZf— Gss🇮🇳 (@Gss_Views) October 5, 2024
The shameless RIL even tries to earn from the IOA?— Ganesh Kumar (@slganesh1) October 5, 2024
Ambani Adani are only there to loot indians and all willing govt. public exchequer in every which way.— A G (@AnjuGup57654326) October 5, 2024
See Also: ‘Nita Ambani Should Quit’ Amid Vinesh Phogat Disqualification Row Netizens Slam IOC Member For Inaction
See Also: Nita Ambani Throwing Packets Of Prasad During Visarjan Angers Netizens: ‘Colonizers Did The Same’
