New Delhi [India], May 31 (ANI): The Enforcement Directorate (ED) on Thursday levied penalties on the Board for Control of Cricket in India (BCCI) and its former chief N. Srinivasan among others over alleged violations in Foreign Exchange Management Act (FEMA) regulations in the 2009 edition of the Indian Premier League (IPL). Also Read - Sourav Ganguly Health Update: BCCI President to Undergo Medical Tests, Decision on Stent Insertion After Reports Arrive, Says Doctor
Apart from an 82.66 Cr fine on the BCCI, and an 11.53 Cr fine on Srinivasan, penalties have also been imposed upon the former chairman of the IPL Lalit Modi (10.65 Cr), former BCCI treasurer MP Pandove (9.72 Cr) and the State Bank of Travancore (7 Cr). Also Read - IPL 2021 Auction Details: Franchise Owners Asked to Submit Negative COVID-19 Tests, Quarantine Not Required
The penalties amount to a total of 121.66 Cr. Also Read - BCCI President Sourav Ganguly to Undergo Stenting Procedure Today
On July 20, 2011, the ED had issued show cause notices to Modi and the BCCI under provisions of FEMA regarding the alleged transfer of a sum of Rs 243.45 crores to Cricket South Africa without prior permission of the RBI, ahead of an IPL tournament in 2009.
The ED was subsequently allowed by the Bombay High Court to summon several former BCCI officials, including Manohar and then secretary N Srinivasan as witnesses in the matter.
In March this year, former IPL Chief Operating Officer (COO) Sundar Raman and former IPL commissioner Chirayu Amin had appeared before the Special Director of the ED in Mumbai for cross-examination by Modi’s lawyers in the case. (ANI)
This is published unedited from the ANI feed.