NEW DELHI, April 29: The Boxing Federation of India (BFI) asserted that the International Boxing Association (AIBA) acted in �haste� after the hosting rights of the 2021 men�s world championship were taken away from the country for non-payment of host city fee.
In a statement on Monday night, AIBA handed over the championship, originally allotted to India in 2017, to Serbian capital Belgrade.
The BFI acknowledged the delay in payment but blamed it on �procedural complications� arising out of the AIBA�s failure to resolve �issues� with regards to the account in which the money was to be transferred.
The payment of what is estimated to be USD 4 million was due to be made on December 2 last year.
�After New Delhi didn�t fulfil its obligations to pay host fee as mentioned in the Host City Agreement terms, AIBA has terminated the contract. Therefore, India would have to pay a cancellation penalty of USD 500,� the AIBA said in a statement. � PTI
