Tribunal Overturns Most FEMA Violation Charges Against Lalit Modi and BCCI
The Appellate Tribunal under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act (SAFEMA) has largely overturned the Enforcement Directorate's (ED) findings and penalties against the BCCI, former IPL chairman Lalit Modi, and others in a FEMA case related to the 2009 IPL's shift to South Africa. The ED had alleged FEMA violations for remitting funds overseas to organize the tournament. The Tribunal cleared the State Bank of India and its former manager of liability, ruling the remittances were processed in ordinary banking operations. However, it upheld two specific violations: a ₹4 crore penalty on BCCI for remitting more than recorded in its books, and a reduced ₹1 crore penalty (from ₹4 crore) for delayed repatriation of ticket sale proceeds. Lalit Modi welcomed the decision, stating he acted in good faith for Indian cricket.
Editorial responsibility
- No named human review is recorded for this page.
- Reports are grouped by semantic similarity and deterministic rules. Language models may assist titles, summaries, translation and cross-source analysis; the page itself is projected from evidence records.
- Current automated evidence projection