
Former IPL founder and chairman Lalit Modi has announced plans to return to India after spending nearly 16 years abroad, following a major legal victory in a case linked to the 2009 Indian Premier League season in South Africa.

A tribunal has set aside most of the Enforcement Directorate's findings and penalties in the principal FEMA proceedings, ruling that there was no material to establish Lalit Modi's responsibility for the alleged foreign exchange violations.

The case dates back to 2009, when the IPL was shifted to South Africa due to India's general elections. The Enforcement Directorate had alleged violations under the Foreign Exchange Management Act (FEMA) over remittances related to staging the tournament.

Lalit Modi plans India return after 16 Years as tribunal gives major relief In IPL 2009 FEMA Case

<p>UK Home Secretary Sajid Javid has formally approved Vijay Mallya's extradition to India. The fugitive billionaire businessman's extradition had been ordered on December 10, 2018 by the Westminster Magistrates' Court.&nbsp;</p>

<p>Mallya is wanted in India on fraud and money laundering charges amounting to an estimated Rs 9,000 crore.</p>

<p>Mallya had only last week complained that&nbsp;his group's assets — "worth over 13,000 crores" — had been attached by the consortium of banks to which he owes the money.&nbsp;Mallya said that that was far over the Rs 9,000 crore he owes to the banks.</p>

<p>"Where is justice or fair play?" he tweeted.&nbsp;</p>

<p>Mallya added that the "banks have given an open licence to their lawyers in England to pursue multiple frivolous litigations against me."&nbsp;</p>

<p>"Who is accountable for spending public money on legal fees in such a brazen manner?" he then went on to ask.</p>

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<p dir="ltr" lang="en">The DRT Recovery Officer recently attaches my Group assets worth over 13,000 crores in India on behalf of the Consortium of Banks. Yet the narrative is that I ran away with the claimed amount of 9000 crores causing loss to the Public Sector Banks. Where is Justice or fair play ?</p>
— Vijay Mallya (@TheVijayMallya) <a href="https://twitter.com/TheVijayMallya/status/1091187395259781121?ref_src=twsrc%5Etfw">February 1, 2019</a></blockquote>
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<p dir="ltr" lang="en">Every morning I wake up to yet another attachment by the DRT recovery officer. Value already crossed 13,000 crores. Banks claim dues including all interest of 9,000 crores which is subject to review. How far will this go and well beyond ? Justified ??</p>
— Vijay Mallya (@TheVijayMallya) <a href="https://twitter.com/TheVijayMallya/status/1091188402400178176?ref_src=twsrc%5Etfw">February 1, 2019</a></blockquote>
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<p dir="ltr" lang="en">And despite all the attachments in India, Banks have given an open licence to their Lawyers in England to pursue multiple frivolous litigations against me. Who is accountable for spending Public money on Legal fees in such a brazen manner ?</p>
— Vijay Mallya (@TheVijayMallya) <a href="https://twitter.com/TheVijayMallya/status/1091191112507756550?ref_src=twsrc%5Etfw">February 1, 2019</a></blockquote>
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<p>Here is an account of Mallya's assets in England and Wales, and how much they are worth:<br />
&nbsp;<br />
Mallya's Hertfordshire estate, Ladywalk and Bramble Lodge,&nbsp;is worth an estimated 15 million pounds.</p>

<p>Mallya's London pad, 18/19 Cornwall Terrace — a lavish townhouse — is worth of tens of millions of pounds.</p>

<p>Mallya's assets in England also include&nbsp;a fleet of cars which he reportedly spends Rs 24 lakh a month maintaining, and a 164-foot super yacht, Force India.</p>

<p>According to reports, Mallya's total assets in England and Wales add up to about Rs 10,499 crore. There is however still some uncertainty over what all exactly the fugitive billionaire actually owns there.</p>


UK Home Secretary Sajid Javid has formally approved Vijay Mallya's extradition to India. The fugitive billionaire businessman's extradition had been ordered on December 10, 2018 by the Westminster Magistrates' Court.

UK Home Secretary Sajid Javid has formally approved Vijay Mallya's extradition to India. The fugitive billionaire businessman's extradition had been ordered on December 10, 2018 by the Westminster Magistrates' Court. Mallya is wanted in India on fraud and money laundering charges amounting to an estimated Rs 9,000 crore. Mallya had only last week complained that his group's assets — "worth over 13,000 crores" — had been attached by the consortium of banks to which he owes the money. Mallya said that that was far over the Rs 9,000 crore he owes to the banks. "Where is justice or fair play?" he tweeted. Mallya added that the "banks have given an open licence to their lawyers in England to pursue multiple frivolous litigations against me." "Who is accountable for spending public money on legal fees in such a brazen manner?" he then went on to ask. The DRT Recovery Officer recently attaches my Group assets worth over 13,000 crores in India on behalf of the Consortium of Banks. Yet the narrative is that I ran away with the claimed amount of 9000 crores causing loss to the Public Sector Banks. Where is Justice or fair play ? — Vijay Mallya (@TheVijayMallya) February 1, 2019 × Every morning I wake up to yet another attachment by the DRT recovery officer. Value already crossed 13,000 crores. Banks claim dues including all interest of 9,000 crores which is subject to review. How far will this go and well beyond ? Justified ?? — Vijay Mallya (@TheVijayMallya) February 1, 2019 × And despite all the attachments in India, Banks have given an open licence to their Lawyers in England to pursue multiple frivolous litigations against me. Who is accountable for spending Public money on Legal fees in such a brazen manner ? — Vijay Mallya (@TheVijayMallya) February 1, 2019 × Here is an account of Mallya's assets in England and Wales, and how much they are worth: Mallya's Hertfordshire estate, Ladywalk and Bramble Lodge, is worth an estimated 15 million pounds. Mallya's London pad, 18/19 Cornwall Terrace — a lavish townhouse — is worth of tens of millions of pounds. Mallya's assets in England also include a fleet of cars which he reportedly spends Rs 24 lakh a month maintaining, and a 164-foot super yacht, Force India. According to reports, Mallya's total assets in England and Wales add up to about Rs 10,499 crore. There is however still some uncertainty over what all exactly the fugitive billionaire actually owns there.

Mallya extradition case: The fugitive billionaire's UK properties, and how much they're worth

<p>The Central Bureau of Investigation (CBI), who arrested&nbsp;Karti Chidambaram on Wednesday morning at the Chennai Airport, brought him to Delhi.&nbsp;</p>

<p>Karti, Congress leader and son of former finance minister P Chidambaram, was arrested for violating the Foreign Exchange Management Act. The CBI team is now bringing Karti to Delhi.</p>

<p>According to sources,&nbsp;Chidambaram was arrested by the CBI sleuths at Chennai airport around 8am when he returned from London.</p>

<p>The case involves the Foreign Investment Promotion Board (FIPB) approval granted in 2007 for receipt of funds by <a href="http://www.wionews.com/india-news/ed-conducts-raids-at-karti-chidambarams-premises-in-delhi-chennai-over-inx-media-case-29388">INX Media</a> when Karti&#39;s father and senior <a href="http://www.wionews.com/india-news/chidambaram-moves-supreme-court-for-protection-of-fundamental-rights-33974">Congress leader P Chidambaram</a> was the finance minister during the UPA government&#39;s regime.</p>

<p>An FIR was filed by the CBI in connection with the case on May 15 last year. It is alleged that Karti Chidambaram received funds to the tune of Rs 10 lakh in the case, officials said.</p>

<p>Earlier, <a href="http://www.wionews.com/india-news/karti-chidambarams-chartered-accountant-remanded-to-14-day-judicial-custody-34128">Karti Chidambaram&#39;s chartered accountant</a> S Bhaskararaman was arrested in connection with the same case. &nbsp;Bhaskararaman was arrested from a five-star hotel in the heart of the national capital on February 16.</p>

<p><strong>&#39;VENDETTA, DIVERSIONARY TACTIC&#39;</strong></p>

<p>The Congress said that Karti&#39;s arrest is vendetta and a diversionary tactic by the Modi government to hide its scams and &quot;mal-governance&quot;.</p>

<p>&quot;Karti Chidambaram&#39;s arrest would not deter the party from speaking the truth to hold the government accountable,&quot; the party&#39;s communications in-charge Randeep Surjewala said.</p>

<p>It was a classical diversionary tactic to hide corruption scams, mal-governance and mal-administration that have marred this government, Surjewala added.</p>

<p>His party colleague, AICC general secretary Ashok Gehlot, said Karti Chidambaram was arrested to divert attention from the big issues and the bank scam facing the NDA government.</p>

<p>BJP leader Sambit Patra, however, rubbished Congress&#39; allegations. &quot;I believe no one should consider oneself above the law of country. If corrupt are being jailed and law is taking its own course, I see no reason why any political party should cry vendetta. This is law, not vendetta,&quot; Patra said.</p>


Congress leader and son of former finance minister P Chidambaram, Karti Chidambaram, was arrested for violating the Foreign Exchange Management Act.

The Central Bureau of Investigation (CBI), who arrested Karti Chidambaram on Wednesday morning at the Chennai Airport, brought him to Delhi. Karti, Congress leader and son of former finance minister P Chidambaram, was arrested for violating the Foreign Exchange Management Act. The CBI team is now bringing Karti to Delhi. According to sources, Chidambaram was arrested by the CBI sleuths at Chennai airport around 8am when he returned from London. The case involves the Foreign Investment Promotion Board (FIPB) approval granted in 2007 for receipt of funds by INX Media when Karti's father and senior Congress leader P Chidambaram was the finance minister during the UPA government's regime. An FIR was filed by the CBI in connection with the case on May 15 last year. It is alleged that Karti Chidambaram received funds to the tune of Rs 10 lakh in the case, officials said. Earlier, Karti Chidambaram's chartered accountant S Bhaskararaman was arrested in connection with the same case. Bhaskararaman was arrested from a five-star hotel in the heart of the national capital on February 16. 'VENDETTA, DIVERSIONARY TACTIC' The Congress said that Karti's arrest is vendetta and a diversionary tactic by the Modi government to hide its scams and "mal-governance". "Karti Chidambaram's arrest would not deter the party from speaking the truth to hold the government accountable," the party's communications in-charge Randeep Surjewala said. It was a classical diversionary tactic to hide corruption scams, mal-governance and mal-administration that have marred this government, Surjewala added. His party colleague, AICC general secretary Ashok Gehlot, said Karti Chidambaram was arrested to divert attention from the big issues and the bank scam facing the NDA government. BJP leader Sambit Patra, however, rubbished Congress' allegations. "I believe no one should consider oneself above the law of country. If corrupt are being jailed and law is taking its own course, I see no reason why any political party should cry vendetta. This is law, not vendetta," Patra said.

INX Media money-laundering case: Karti Chidambaram arrested in Chennai, brought to Delhi by CBI