Lalit Modi Cleared, SAFEMA Tribunal Sets Aside Penalties
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.
Sports · 5 sources · Jul 21, 2026Read it
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About Lalit Modi
Lalit Kumar Modi is an Indian businessman and former cricket administrator. He was the founder, first chairman and league commissioner of the Indian Premier League (IPL), and ran the tournament for three years until 2010. He also served as the Chairman of the Champions League from 2008 till 2010 and was Vice President of the BCCI from 2005 till 2010. He has also served as the President of the Rajasthan Cricket Association from 2005 till 2009 and then again from 2014 till 2015, and as the vice president of the Punjab Cricket Association from 2004 till 2012.
Everything about Lalit Modi →- Occupation
- cricketer
- Citizenship
- India
- Born
- November 29, 1963
- Website
- https://www.lalitmodi.com/