New Delhi: New Delhi:Former IPL chairman Lalit Modi on Wednesday said he plans to visit India later this year or early next year after receiving major legal relief from the Appellate Tribunal in the long-running 2009 IPL South Africa foreign exchange case, describing the ruling as the vindication of a 16-year battle.
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New Delhi: Former chairman Lalit Modi was cleared in the principal proceedings arising from the 2009 Indian Premier League’s staging in South Africa after the Appellate Tribunal under SAFEMA set aside the penalties imposed on him, rejecting the Enforcement Directorate’s core case that the foreign remittances were capital account transactions.
The SAFEMA Tribunal has overturned key Enforcement Directorate (ED) findings in the 2009 IPL South Africa FEMA case, providing significant relief to Lalit Modi and the BCCI. The tribunal ruled that the remittances were current account transactions and consequently reduced penalties imposed on various officials.
In a major relief to former Indian Premier League (IPL) chairperson, Lalit Modi, a tribunal has set aside a penalty order issued by the Enforcement Directorate (ED) against him, the Board of Control for Cricket in India (BCCI) and some others in a 15-year-old FEMA case relating to hosting of the 2009 T-20 cricket tournament…
New Delhi:In a major relief to former Indian Premier League chairman Lalit Modi, a tribunal has set aside a penalty order issued by the Enforcement Directorate against him and some others in a 15-year-old FEMA case related to hosting of the 2009 T-20 cricket tournament in South Africa.
“The successful staging of that season ensured that the IPL survived and ultimately became one of the world’s most valuable sporting properties,” he said
London [UK], July 21 (ANI): Stating that the Appellate Tribunal under SAFEMA has set aside the penalties imposed on him in the principal FEMA proceedings relating to the IPL South Africa in 2009, Founder and ex-chairman of Indian Premier League (IPL), Lalit Modi on Tuesday asserted that the core allegations have been rejected and the…