India has lost the hosting of the Men's World Boxing Championship 2021 on Tuesday. Hosting of this tournament has been shelved from India because the National Boxing Federation did not pay hosting fees. However, the Federation of India said that the AIBA has taken this step in a hurry. The International Boxing Federation (AIBA) has now handed over the hosting to Serbia by breaking the agreement made in 2017.

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The Indian Boxing Federation admitted that there has been a delay, but said that due to AIBA's failure to resolve the issue of which account to send the money to, the procedural complications arose. AIBA said that India could not pay the hosting fees as per the rules of the host city contract, which caused the AIBA to break the agreement. India will now have to pay a fine of $ 500 due to the cancellation of the agreement. This tournament was going to be the first time in India.

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The AIBA on Tuesday handed over the hosting rights to Serbia for the tournament. Now this tournament will be held in Serbia only next year. The BFI also claimed that he was not advised and alleged that AIBA did not assist him during the operations of the Serbia-linked bank. A statement issued by the BFI said, "WCH-2021 was allocated to the BFI and the host city agreement was signed. After this the AIBA account in Lausanne was freezed." The statement further stated, "AIBA intends to make past payments through an account in Serbia. Serbia is in the gray list of FATF (Financial Action Task Force) countries, Indian banks generally do not send money to Serbia . AIBA cannot resolve these issues. AIBA's account is in Switzerland, as noted in the host city agreement. It is still inactive. "

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