IPL founder Lalit Modi to return to India after relief

IPL founder Lalit Modi to return to India after tribunal relief in 2009 fund transfer case

Synopsis

Lalit Modi is set to make his return to India by late 2023 or early 2027. A significant legal victory from the Appellate Tribunal, which overturned most of the penalties and findings from the Enforcement Directorate, has paved the way for his comeback. After 16 years of legal battles, Modi is excited about the prospects of returning home and reconnecting with loved ones.

IPL founder and former chairman Lalit Modi has said he plans to return to India later this year or in early 2027 after securing relief from the Appellate Tribunal in the long-running 2009 IPL South Africa FEMA case.

The tribunal, operating under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act (SAFEMA), set aside most of the Enforcement Directorate’s findings and penalties against Modi and other appellants in the case, marking a significant legal victory after years of proceedings.

Reacting to the verdict, Modi said he was pleased that the tribunal had ruled in his favour after a prolonged legal battle.

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“I’m really happy with the verdict yesterday. It’s really been a great day. 16 years I have fought and whatever I have been saying to the media and to everybody has finally emerged as the truth. I’m really happy that the tribunal has ruled in my favour. I was only concerned with the well-being of the IPL and nothing and nothing at all. That is the most dear to me. Now that chapter is behind me, I’m going to move on in my life and I’m looking forward to coming back to India. I will come back probably end of this year or early next year. My daughter is due with my grandson in October and hopefully everything will be well and I’ll be back in India.”

The tribunal’s order sets aside most of the Enforcement Directorate’s findings and penalties in connection with the 2009 IPL South Africa FEMA case, providing substantial relief to Modi and the other appellants. Modi said the ruling closes a chapter that lasted 16 years and that he now intends to move forward with his life and return to India.