Appellate Tribunal clears Lalit Modi of major FEMA charges related to 2009 IPL shift
In a July 16 order, the Appellate Tribunal under SAFEMA set aside most penalties imposed on former IPL chairman Lalit Modi, BCCI, and several of its former office-bearers in a FEMA case from the IPL’s 2009 shift to South Africa. The bench held that principal remittances were “current account transactions” not requiring RBI approval, overturning Enforcement Directorate findings while upholding minor violations by the BCCI. Lalit Modi, now cleared of major charges after a 16-year legal battle, expressed happiness and plans to return to India.
22 JUL 2026
— The Hindu
Appellate Tribunal Overturns Most ED Findings in BCCI, Lalit Modi FEMA Case
— NDTV
Lalit Modi, after a favorable SAFEMA tribunal verdict, plans to return to India by early next year.
· THIS STORY — Indian Express
The Appellate Tribunal overturned most penalties in a FEMA case against Lalit Modi, the BCCI, and former office-bearers, clearing Modi of major charges.
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