ANI | Updated:Jul 21, 2026 20:59IST
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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 <a href="https://absafricatv.com/who-will-pay-to-belong-to-south-africa/" title="Who will pay to belong to <a href="https://absafricatv.com/visiting-south-africa-new-visa-and-travel-rules-explained/" title="Visiting South Africa? New visa and travel rules explained”>South Africa?”>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 judgment is not just personal vindication.
In a statement posted on X, Lalit Modi said the Appellate Tribunal under SAFEMA (Smugglers and Foreign Exchange Manipulators Act) has delivered its judgment after more than sixteen years of investigations, proceedings and litigation arising from the hosting of the 2009 Indian Premier League in South Africa.
“The Tribunal has rejected the central premise on which the Enforcement Directorate’s case against me had been built. It held that the principal foreign remittances relating to the staging of IPL 2009 in South Africa were current account transactions, not capital account transactions, thereby overturning the foundation of the earlier findings,” Lalit Modi said.
“The Tribunal also found that I was neither responsible for BCCI’s statutory FEMA compliance nor vested with the financial authority alleged by the Enforcement Directorate, and it has set aside the penalties imposed on me in the principal proceedings. This marks the conclusion of what has been the single most significant legal matter arising from the 2009 South Africa IPL,” he added.
Lalit Modi said that for over sixteen years he has consistently maintained that he acted “in good faith, in the best interests of Indian cricket and the IPL, and committed no personal wrongdoing”.
He said the decision to move the tournament to South Africa in 2009 was taken under extraordinary circumstances when India’s general elections made it impossible to host the tournament at home.
“The successful staging of that season ensured that the IPL survived and ultimately became one of the world’s most valuable sporting properties,” the statement said.
Lalit Modi said that throughout these proceedings he has cooperated through the legal process and remained confident that the facts and the law would ultimately prevail.
“I wish to express my gratitude to my legal team, my family, my friends and the many people who continued to believe in me during what has been an extraordinarily long journey,” he said.
The former IPL Commissioner said that “the judgment is not simply personal vindication”.
“It reaffirms the importance of due process, objective legal analysis and the principle that allegations must ultimately be tested against evidence and law. I have always believed that time is the greatest judge. Today, after more than sixteen years, that process has spoken,” he said.
Lalit Modi said his focus remains firmly on the future. “I will continue pursuing opportunities in global sport, business and philanthropy while leaving this chapter behind with dignity and gratitude,” he said. (ANI)
