Former IPL chairman Lalit Modi announced on Wednesday that he intends to return to India by the end of this year or early next year. This announcement follows a major legal victory for the 62-year-old, who secured a favorable ruling from the Appellate Tribunal regarding the 2009 IPL South Africa foreign-exchange case. Modi, who has resided in London since 2010, described the verdict as the successful conclusion of a 16-year legal battle.
The Appellate Tribunal, operating under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act (SAFEMA), ruled on Tuesday to set aside penalties previously imposed by the Enforcement Directorate (ED) against Modi and other former BCCI officials. The tribunal determined that the foreign remittances involved were current-account transactions that did not require prior Reserve Bank of India approval. Furthermore, the court held that Modi was not responsible for ensuring the BCCI's compliance with the Foreign Exchange Management Act (FEMA).
In a video message shared on social media, Modi expressed his satisfaction with the outcome, stating that the truth he had maintained for years has finally been established. He emphasized that his actions during the 2009 tournament, which was relocated to South Africa due to general elections in India, were guided solely by his commitment to the well-being of the IPL.
Regarding his future, Modi clarified that he intends to keep London as his primary residence while looking forward to visiting India to reconnect with friends and contribute positively. He noted that his daughter is expecting a child in October, adding a personal note to his travel plans. Despite his prolonged time abroad, Modi stated that his heart remains deeply connected to India, and he respects the legal process that has finally brought this chapter to a close.
