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Former Indian Premier League (IPL) chairman Lalit Modi on Wednesday said he was <\/span>\u201creally looking forward\u201d<\/span> to returning to India after an appellate tribunal overturned key findings and penalties imposed on him by the Enforcement Directorate (ED) in a Foreign Exchange Management Act (FEMA) case related to the 2009 IPL held in South Africa.<\/span><\/p>\n I’m really looking forward to returning to India after an extended very long time. Stay well and stay protected \ud83d\ude4f\ud83c\udffd https:\/\/t.co\/29AaVrxF6V<\/a><\/p>\n \u2014 Lalit Kumar Modi (@LalitKModi) July 22, 2026<\/a><\/p>\n<\/blockquote>\n An appellate tribunal in Recent Delhi has overturned an Enforcement Directorate (ED) penalty order against former IPL chairman Lalit Modi and a number of other others in a Foreign Exchange Management Act (FEMA) case linked to the staging of the 2009 IPL in South Africa.<\/span><\/p>\n The tribunal, operating under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act (SAFEMA), partly allowed the appeals against the ED special director\u2019s order dated May 31, 2018. It put aside the agency\u2019s findings and the penalties imposed for alleged FEMA violations.<\/span><\/p>\n Rejecting the ED\u2019s primary argument regarding the character of the financial transactions on the centre of the case, the tribunal observed:<\/span><\/p>\n \u201cWe have now considered the submissions\u2026 and find that if, in a given case, the payment towards the service was made every so often and that too without budgeting, then, in accordance with the respondent (ED), it might fall within the definition of \u2018Capital Account Transaction\u2019. We’re unable to just accept the argument advanced by the respondent (ED).\u201d<\/span><\/strong><\/p>\n The 2009 season of the IPL was shifted to South Africa because of the overall elections in India. Reacting to the tribunal\u2019s ruling on Tuesday, Lalit Modi said:<\/span><\/p>\n \u201cThe Tribunal has rejected the central premise on which the ED\u2019s case against me had been built\u2026 This marks the conclusion of what has been the one most vital legal matter arising from the 2009 South Africa IPL.\u201d<\/span><\/strong><\/p>\n Lalit Modi has been living overseas for greater than a decade while facing multiple investigations into alleged financial irregularities during his tenure as IPL chairman. A day after the tribunal\u2019s ruling, his latest statement indicated that he might be preparing to return to India after spending years abroad.<\/span><\/p>\n Get the most recent cricket news here, like us on Facebook<\/a>, and follow us on Twitter<\/a> and Instagram <\/a> for more such updates.<\/span><\/p>\n<\/div>\n\n
Lalit Modi Gets Relief as Tribunal Rejects ED\u2019s Core Argument<\/span><\/h3>\n
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