Former Indian Premier League (IPL) chairman Lalit Modi has announced plans to return to India later this year or early next year after securing significant legal relief in the long-running 2009 IPL South Africa foreign exchange case.

The announcement came a day after the Appellate Tribunal under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act (SAFEMA) set aside important penalties imposed by the Enforcement Directorate (ED) against Modi and other former Board of Control for Cricket in India (BCCI) officials.

Speaking in a video message, Modi described the verdict as a major milestone after years of legal proceedings.

Lalit Modi welcomes tribunal verdict

Reacting to the tribunal’s decision, Modi said the ruling had validated the position he had consistently maintained since the case began. “I’m really happy with the verdict. It’s really been a great day. Sixteen years I have fought and whatever I have been saying to the media and to everybody has finally emerged as the truth,” Modi said. 

The case dates back to the 2009 IPL season, which was shifted to South Africa. The Enforcement Directorate had initiated proceedings over alleged violations related to foreign exchange transactions connected with the tournament.

What did the tribunal ruled?

The tribunal examined the nature of the foreign remittances involved in the case and concluded that they were current account transactions, meaning they did not require prior approval from the Reserve Bank of India (RBI).

It also ruled that Lalit Modi was not responsible for ensuring the BCCI’s compliance with the Foreign Exchange Management Act (FEMA) in relation to those transactions.

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The decision resulted in key penalties imposed by the Enforcement Directorate being set aside, bringing a major legal development in the case that has continued for more than a decade and a half.

Lalit Modi says he will visit India

Modi, who has been based in London since 2010 after leaving India amid multiple investigations, said he is now looking forward to returning to the country.

“I’m going to move on in my life and I’m looking forward to coming back to India. Yes, I will come back probably at the end of this year or early next year. My daughter is due with my grandson in October and hopefully everything will be well and I’ll be back in India,” he said. 

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His remarks indicate that family commitments and the conclusion of this legal chapter have influenced his decision to plan a visit.

‘India has always been a part of who I am,’ says Modi

Soon after the verdict, Modi also shared a statement on X, expressing his emotional connection with India despite spending years overseas. “India has always been a part of who I am. The legal process has taken its course, and I respect that. I look forward to visiting my country again meeting old friends, from time to time and contributing in every positive way I can,” he wrote.

At the same time, he clarified that London will continue to be his permanent residence. “My home remains in London, and that is where I will continue to live, but my heart has never stopped beating for India,” Modi further added. 

Modi also reiterated that his role during the 2009 IPL season was driven by the interests of the tournament. “I was only concerned with the well-being of the IPL and nothing at all. That is the most dear to me,” he cleared. 

With the tribunal’s ruling now delivered, Lalit Modi has indicated that he intends to move forward while preparing for his first visit to India in several years.

FAQs

Why is Lalit Modi planning to return to India?

Lalit Modi said he plans to visit India after receiving legal relief from the Appellate Tribunal in the 2009 IPL foreign exchange case.

What did the tribunal rule in Lalit Modi’s case?

The tribunal held that the foreign remittances were current account transactions that did not require prior RBI approval and ruled that Modi was not responsible for ensuring the BCCI’s FEMA compliance.