ED slaps penalty of over Rs.121 cr on BCCI

The Enforcement Directorate has slapped a penalty of over 121 crore rupees on the BCCI, its former president N Srinivasan, former IPL commissioner Lalit Modi and others for alleged violation of the FEMA law during the T-20 cricket IPL edition in



2009. 

The ED was investigating the case for the alleged contravention of the Foreign Exchange Act (FEMA) in transferring over 243 crore rupees out of the country to host the 2009 Indian Premier League edition in South Africa.