The tribunal’s decision quashed the penalties imposed against Modi in the case investigated by the Enforcement Directorate. The ruling found that the available evidence did not prove that Modi had any direct financial liability or involvement with the transactions considered violations under foreign exchange regulations.
Modi, who has been living in London since 2010, responded to the development through a video message, stating that the truth had come out. He expressed satisfaction with the outcome and said that he plans to visit India later this year or early next year.
According to Modi, his India visit will be scheduled after the arrival of his daughter’s baby. The former IPL chief has remained based in London for more than a decade following various legal proceedings and investigations related to financial matters.
The tribunal order marks a significant development in the long-running foreign exchange case involving Lalit Modi. The decision removes the financial penalties against him in the matter related to the 2009 South Africa IPL season and represents a major legal victory for the IPL founder.
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