Get above the noise
Log in for answers tailored to you — saved chats, your topics, and the full IJR suite.
Person
Free account · your comment posts right after signup
The SAFEMA Appellate Tribunal has set aside the penalties in the FEMA case tied to IPL 2009 in South Africa, ruling that the remittances were current account transactions and that Lalit Modi was not responsible for BCCI’s FEMA compliance. Modi framed the verdict as vindication after more than sixteen years, saying the IPL’s move to South Africa helped save and grow the league and that he acted in good faith.
"Lalit Modi has secured a legal vindication after appellate tribunals set aside penalties in the 2009 SAFEMA/FEMA case related to IPL South Africa, and says he plans to return to India after 16 years, though he will continue living in London and visit India periodically." Modi frames the relief as clearing the way to reconnect with his homeland and the IPL’s future, while keeping London as his base and aiming to visit India around year-end or early next year as his family events unfold.
