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The Chapter is Behind Me": Lalit Modi Eyes India Return After Major Legal Relief in FEMA Case
Former Indian Premier League (IPL) chairman and founder Lalit Modi has announced plans to visit India after spending 16 years abroad. The statement follows a significant legal victory after the Appellate Tribunal under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act (SAFEMA) set aside key penalties imposed by the Enforcement Directorate (ED) against him.
Key Highlights of the Development:
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The Legal Verdict: The case dates back to the relocation of the 2009 IPL season to South Africa due to general elections in India. The ED had alleged violations of the Foreign Exchange Management Act (FEMA) regarding foreign exchange remittances worth over ₹243 crore made without prior RBI approval. The Appellate Tribunal ruled in Modi's favor, observing that the remittances were legitimate operational expenses (current account transactions) that did not require prior RBI approval, and noted that he was not personally responsible for statutory FEMA compliance.
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Plans for Return: Taking to social media and releasing a video message, the 62-year-old former cricket administrator expressed his joy, calling the ruling a vindication of a 16-year battle. He revealed plans to visit India around late 2026 or early 2027.
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Primary Residence: Despite his planned visit, Modi clarified that his permanent home will remain in London, UK, where he has primarily resided since leaving India in 2010. He noted he plans to visit India periodically to connect with roots and establish his son in the family business.
The tribunal's ruling removes one of the most significant legal hurdles that has followed the IPL architect for over a decade.
Watch the full video report above for details on the verdict and his announcement! Do you think Lalit Modi will make his return to India soon? Share your views in the comments below, and stay connected with VYGR News for continuous updates on sports and legal affairs.
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