The controversy pertained to the Global Partnership Agreement dated June 28, 2002, entered into between LG group entities and Global Cricket Corporation Pvt. Ltd. (GCC), a Singapore-based company which had acquired commercial rights from the International Cricket Council (ICC).
Under the agreement, LG was appointed as ‘Global Partner’ for ICC events, including the 2003 ICC Cricket World Cup in South Africa and the 2007 ICC Cricket World Cup, and obtained extensive advertising and promotional rights. These included display of LG branding on perimeter boards, sight screens, tickets, official event websites and other promotional material.
Of the total USD 27.5 million payable by the LG group to GCC, LG Electronics India bore USD 11 million.
