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Updated: July 23, 2011 02:22 IST

ED notices to BCCI, Lalit Modi

  • Staff Reporter
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File photo of suspended Indian Premier League chairman Lalit Modi.
The Hindu
File photo of suspended Indian Premier League chairman Lalit Modi.

The Enforcement Directorate (ED) has issued show-cause notices to the Board of Control for Cricket in India (BCCI) and the former BCCI chairperson, Lalit Modi, in connection with an alleged Foreign Exchange Management Act (FEMA) norm violation in a transaction worth Rs. 90 crore.

“Yes. We have sent notices to the BCCI and Mr. Modi,” an ED official told The Hindu here on Friday. According to informed sources, there was an alleged transaction of Rs. 90 crore between the BCCI and a United Kingdom-based company International Management Group (IMG). This transaction is under the ED scanner. The BCCI and Mr. Modi would have to respond to the notice in a month, the sources said.

The ED on Thursday sent a notice to cricketer Ravi Shastri who was on the governing council of the Indian Premier League (IPL) with respect to their investigation in the IPL transactions.

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