New Delhi: Indian Premier League (IPL) founder and former chairman Lalit Modi has announced plans to return to India after nearly 16 years, following a favourable ruling by the Appellate Tribunal in the 2009 Indian Premier League South Africa Foreign Exchange Management Act (FEMA) case. Calling the verdict the end of a prolonged legal battle, Modi said he hopes to return by the end of 2026 or early 2027.
Tribunal ruling brings legal battle to a close
Reacting to the tribunal’s decision, Lalit Modi expressed satisfaction with the outcome, describing it as the culmination of a 16-year legal fight.
“I’m really happy with the verdict. Sixteen years I have fought and whatever I have been saying to the media and everybody has finally emerged as the truth,” Modi said while speaking to reporters.
He added that the ruling had vindicated his long-held position that his actions during the 2009 IPL season were aimed solely at ensuring the successful conduct of the tournament.
According to Modi, the verdict allows him to move forward after years of litigation.
Plans to return after family milestone
Modi said he intends to return to India after the birth of his grandson, expected later this year.
He stated that he is likely to travel back to India either by the end of 2026 or in the early months of 2027.
“My daughter is due with my grandson in October. Hopefully everything goes well and I’ll be back in India,” he said.
Modi has been living outside India since 2010 after multiple investigations were launched against him.
Tribunal sets aside key ED findings
The Appellate Tribunal under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act (SAFEMA) set aside most of the Enforcement Directorate’s findings and penalties against Modi and other appellants in the principal proceedings linked to the 2009 IPL season in South Africa.
The judgment, delivered on July 16, held that there was no material to establish that Modi was responsible for the alleged FEMA violations in the principal proceedings.
The tribunal also ruled that the foreign remittances made for conducting the IPL in South Africa were current account transactions rather than capital account transactions, rejecting the central premise of the Enforcement Directorate’s case.
Background to the 2009 IPL case
The legal dispute dates back to 2009, when the IPL was shifted from India to South Africa because its schedule coincided with the Lok Sabha elections.
The Enforcement Directorate initiated proceedings over foreign exchange remittances made to organise the tournament overseas, alleging that prior approval from the Reserve Bank of India was required.
Modi, however, maintained throughout the proceedings that the transactions complied with applicable regulations and were undertaken solely to facilitate the successful staging of the tournament.
Following the tribunal’s verdict, he reiterated that the decision had overturned the basis on which the Enforcement Directorate’s case had been built.
Modi welcomes verdict
Welcoming the judgment, Modi said the tribunal had recognised that the transactions in question did not amount to the violations alleged by the Enforcement Directorate.
He described the decision as a major personal relief after years of legal proceedings and said he now looks forward to the next phase of his life.
Modi, regarded as the architect of the IPL, served as the league’s first chairman and commissioner before leaving India in 2010 amid investigations by the Enforcement Directorate, the Board of Control for Cricket in India (BCCI) and the Income Tax Department.
Conclusion
The Appellate Tribunal’s ruling marks a significant development in the long-running 2009 IPL FEMA case. With key findings against him set aside in the principal proceedings, Lalit Modi says he is preparing to return to India after nearly 16 years, bringing to a close one of the country’s most high-profile legal battles involving the IPL.