The record
Written from the 2 reports below. Nothing here is unsourced.
- The Appellate Tribunal under SAFEMA has largely overturned the Enforcement Directorate's FEMA findings and penalties against the BCCI, former IPL chairman Lalit Modi, and other appellants related to the 2009 IPL's move to South Africa.
- The Tribunal cleared the State Bank of India and its former Chief Manager, saying the foreign remittances were processed in the ordinary course of banking.
- It retained a ₹4 crore penalty on the BCCI for remitting funds exceeding its books, but reduced another penalty from ₹4 crore to ₹1 crore on the delayed repatriation of ticket sale proceeds, since the funds were eventually brought back.
- Following the relief, Lalit Modi announced plans to return to India after 16 years abroad and reiterated that he committed no personal wrongdoing.
What to watch next
- Whether the ED challenges the Tribunal's order in a higher court
- The status of the remaining ₹5 crore in penalties on the BCCI after the reduction
- Lalit Modi's planned return to India and any further legal proceedings he may face
What changed2
Every report on this story, newest first. Times are when each outlet published.
Why it matters3
Who is affected first and what likely follows, with a direction and a horizon. Extracted from the reports, never invented.
- Lalit Modi penalty quashed· immediate
- BCCI reduced penalty· immediate
- Enforcement Directorate regulatory reversal· days
Coverage2
2 reports
English national2
All filed from IndiaSingle origin
Named India · South Africa · A.K. Nazeer Khan · Appellate Tribunal under SAFEMA · Board of Control for Cricket in India · Enforcement Directorate · Indian Premier League · Lalit Modi · Mehmood Abdi · M.P. Pandove · Munishwar Nath Bhandari · N. Srinivasan · Rajesh Malhotra
The 2 reports are listed beside the record.
Ask this story
Answers cite the reports above, or say they can't.