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

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.