SLRC Chairman Mohan Samaranayake insists there is documented proof to say that the exclusive broadcasting rights for the London Games has been awarded to SLRC.
However MTV says it has obtained the rights to broadcast the games live on television and details regarding this will be made available by MTV at a press briefing on Tuesday.
Samaranayake told the local Sunday Leader newspaper that the deal for SLRC to broadcast the games was reached with the Asian Broadcasting Union (ABU).
He said that SLRC has made the full payment for the exclusive broadcasting rights and is already running a television campaign for the games.
However it has been reported that MTV has outbid SLRC for the exclusive rights although SLRC initially won the bid.
When The Sunday Leader had contacted MTV Channel head Chevaan Daniel he has confirmed that MTV will be broadcasting the event.
Earlier the Carlton Sports Network (CSN) had also attempted to obtain exclusive broadcasting rights of the Olympics.
CSN had sought to obtain the rights from SLRC but the state broadcaster said it had decided not to transfer the telecast rights.