IOA President PT Usha Counters Claims of Financial Mismanagement

Indian Olympic Association President PT Usha refutes allegations by IOA Treasurer Sahdev Yadav on financial mismanagement due to the Reliance contract. Usha assures transparency and no financial loss. The controversy revolves around renegotiation due to IOC's new guidelines affecting sponsor rights.

Indian Olympic Association (IOA) President PT Usha has categorically refuted allegations made by IOA Treasurer Sahdev Yadav regarding reported financial losses from a re-contract with Reliance Industries Limited. Usha presented proof to counter claims of a Rs 24 crore loss, asserting the IOA's financial prudence.

In response to the Comptroller and Auditor General's (CAG) inquiries, Usha provided a formal reply asserting no financial loss was incurred. She claimed the allegations made by Yadav were intended to defame her and the IOA.

Usha explained the re-contract terms with Reliance changed following new IOC guidelines that restricted naming rights. She stated efforts were made to adjust the contract in the IOA and athletes' best interests. Usha assured transparency in all dealings, dismissing Yadav's claims as unfounded.

(With inputs from agencies.)