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IPL 2009: ED imposes penalty of Rs 121 cr on BCCI, others

By Cricketnmore Editorial November 30, -0001 • 00:00 AM View: 1579

June 1 (CRICKETNMORE) - The Enforcement Directorate on Thursday said it has slapped a penalty of Rs 121 crore on BCCI, its former Chairman N. Srinivasan, former Indian Premier League (IPL) Commissioner Lalit Modi and others for alleged violation of the FEMA during second edition of the cash-rich Twenty-20 cricket tournament in South Africa.

An official said that the ED has levied a fine of Rs 121.56 crore in connection with its ongoing investigation into the alleged contravention of the Foreign Exchange Management Act (FEMA) in transferring Rs 243 crore to South Africa to host the second edition of the IPL in 2009.

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