Tribunal quashes ED penalty against Lalit Modi over IPL 2009 case

The Appellate Tribunal under SAFEMA has overturned an Enforcement Directorate penalty imposed on Lalit Modi, former IPL chairman, concerning a Foreign Exchange Management Act case linked to the 2009 Indian Premier League in South Africa. The tribunal ruled the payments made to Cricket South Africa were legitimate operational expenses, not requiring prior approval from the Reserve Bank of India. The judgment, delivered on July 16, found no evidence of wrongdoing by Modi regarding the BCCI’s compliance with FEMA provisions. Modi described the ruling as a vindication after a lengthy legal battle, asserting he acted in good faith for Indian cricket. Additional relief was granted to the BCCI and State Bank of India, with most of the ED's earlier penalty order set aside.

• 9:32 AMYahoo Sports — Relief for Lalit Modi as tribunal quashes 2009 ED penalty