Modi, who left India amid a corruption controversy, said the tribunal’s decision marked the conclusion of his 16-year legal battle. In a video accessed by news agency ANI, he said he was pleased with the verdict and confirmed that he was planning to return to India, possibly by the end of this year or early next year.
“I am really happy with the verdict yesterday. It has been a great day. For 16 years, I have fought, and whatever I have been saying to the media and everyone has finally emerged as the truth. I am really happy that the tribunal has ruled in my favour,” Modi said.
He added that his primary concern had always been the welfare of the IPL. “I was only concerned with the well-being of the IPL and nothing else. That is the most dear to me. Now that chapter is behind me, I am going to move on in my life, and I am looking forward to coming back to India,” he said.
#WATCH | IPL founder and first chairman Lalit Modi to return to India.
— ANI (@ANI) July 22, 2026
He says, "I'm really happy with the verdict yesterday. It's really been a great day. 16 years I have fought and whatever I have been saying to the media and to everybody has finally emerged as the truth. I'm… pic.twitter.com/QTN7VkzuEy
Modi also mentioned that his daughter is expecting a child in October and expressed hope that everything would go well before his return to India.
The tribunal bench comprising Chairman Justice Munishwar Nath Bhandari and member Rajesh Malhotra partly allowed appeals against the Enforcement Directorate’s 2018 order. The order had imposed penalties on the Board of Control for Cricket in India (BCCI), Lalit Modi, N Srinivasan, M P Pandove, the State Bank of India and its former Chief Manager AK Nazeer Khan for alleged violations under the Foreign Exchange Management Act (FEMA).
The Enforcement Directorate, which investigates money laundering cases, had alleged that the BCCI violated FEMA regulations by shifting the 2009 IPL season to South Africa. The agency claimed that foreign exchange rules were breached while transferring funds abroad for conducting the tournament.
The tribunal upheld two findings related to the BCCI. These included the remittance of an amount higher than what was recorded in its books of accounts and the delay in bringing ticket sale proceeds back to India. However, the penalty imposed on the BCCI was reduced from Rs 4 crore to Rs 1 crore.
The 2009 IPL season was moved to South Africa as it coincided with the general elections in India. The cricket board had transferred funds to South Africa for organising the tournament, which the Enforcement Directorate considered a violation of foreign exchange laws.
In its 105-page order, the tribunal observed, “The penalty imposed on Lalit Modi is wholly erroneous and is thus interfered with.”
Following the ruling, Lalit Modi issued a statement maintaining that he had committed no wrongdoing. He said that for more than 16 years, he had consistently maintained that he acted in good faith and in the best interests of Indian cricket and the IPL.
“This judgment is not simply personal vindication. It reaffirms the importance of due process, objective legal analysis and the principle that allegations must ultimately be tested against evidence and law,” Modi was quoted as saying by news agency PTI.
The tribunal’s decision has provided significant relief to Lalit Modi in the long-running legal dispute connected with the 2009 IPL South Africa FEMA case, while reaffirming the role of legal scrutiny and evidence-based evaluation in financial regulatory matters.
About The Author
Comment List