Former IPL chairman Lalit Modi has announced that he plans to return to India after receiving major relief from an appellate tribunal in the long-running 2009 IPL Foreign Exchange Management Act (FEMA) case. The tribunal set aside key penalties imposed by the Enforcement Directorate (ED), marking a significant legal victory for Modi after nearly 16 years of legal proceedings.
The case dates back to the 2009 Indian Premier League season, which was shifted to South Africa due to the Lok Sabha elections in India. The ED had alleged violations of FEMA rules related to fund transfers made during the tournament. However, the tribunal ruled that the transactions in question were current account transactions and rejected several findings against Lalit Modi and other former BCCI officials, removing a major legal obstacle.
Following the verdict, Lalit Modi said the decision had brought an end to a 16-year legal battle and expressed his intention to visit India later this year or in early 2027. He stated that the tribunal’s ruling had cleared his name in the matter and that he was ready to move forward. While this verdict is a significant development in the FEMA case, Modi continues to remain associated with other legal controversies, making his proposed return to India a closely watched development.