Former Indian Premier League (IPL) chairman Lalit Modi has said he has planned to return to India after 16 years abroad, after receiving major relief from the Appellate Tribunal under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act (SAFEMA) related to the 2009 IPL South Africa FEMA (Foreign Exchange Management Act) case. He, however, said that he will continue to reside in London, UK, where he is currently based, and visit India from time to time.
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The tribunal’s recent decision set aside most of the Enforcement Directorate’s (ED) findings and penalties against Modi and other appellants in the 2009 case.
‘Only concerned with IPL’s well-being’
Welcoming the verdict and his plan to visit India, the 62-year-old said in a video shared with news agency ANI, “I’m really happy with the verdict yesterday. 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. I’m really happy that the tribunal has ruled in my favour. I was only concerned with the well-being of the IPL and nothing and nothing at all. That is the most dear to me.
“Now that chapter is behind me, I’m going to move on in my life, and I’m looking forward to coming back to India. 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,” Modi, who served as the vice president of the Board of Control for Cricket in India (BCCI) between 2005 and 2010 and founded the IPL, added.
Modi to continue living in London
However, after announcing his return to India in a post on X, Modi also clarified that he would continue living in London and visit India only periodically and to see his son get established in his family business.
For clarity. I will continue to live in london and visit India as it’s my country from time to time and to establish my son rightful place in family business https://t.co/qRFyW6DvNU
— Lalit Kumar Modi (@LalitKModi) July 22, 2026
In another post on X, Modi said, ““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. My home remains in London, and that is where I will continue to live, but my heart has never stopped beating for India.”
He left India in 2010 after facing many probes, including those by the ED, the BCCI and the Income-Tax Department.
Not just about personal vindication: Lalit Modi
The former IPL chairman also said Tuesday’s judgment was not just about personal vindication but also reaffirmed the importance of due process that allegations must ultimately be tested against evidence and law.
The 2009 IPL, the second edition after it began the year before, was moved to South Africa due to the general elections the same year. The BCCI had moved funds to South Africa for this event, which the ED considered a contravention of the FEMA.
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The main charge was in regard to the transfer of foreign exchange worth $4,98,62,799 (equivalent to more than Rs 243 crore) to an entity outside India without prior approval of the Reserve Bank of India.
The federal agency issued the FEMA show-cause notices in 2011, followed by penalty orders in 2018 against Modi, some former BCCI executives and others.
These entities later challenged the order before the tribunal set up under the SAFEMA.
What tribunal said
A division bench of the tribunal, including Chairman Justice Munishwar Nath Bhandari and Member Rajesh Malhotra, issued a 105-page order on July 16 stating Modi was “not in-charge of the affairs and otherwise he has been framed in the case without any material showing his responsibility”.
“The penalty imposed on Shri Lalit Modi is wholly erroneous is thus interfered,” the order said.
Modi then released a statement through his lawyer Mehmood Abdi, saying, “For over sixteen years I have consistently maintained one simple position: I acted in good faith, in the best interests of Indian cricket and the IPL, and committed no personal wrongdoing.
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“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.”
The appellate tribunal partly allowed appeals against the ED’s 2018 order penalising BCCI, Modi, N Srinivasan, M P Pandove, the State Bank of India and its former chief manager AK Nazeer Khan for alleged FEMA violations. The ED had claimed that the foreign exchange rules were violated while shifting the 2009 IPL to South Africa and sending funds abroad for the tournament.
The tribunal upheld two findings — excess remittance beyond BCCI’s account books and delayed repatriation of ticket sale proceeds — but reduced the penalty on BCCI from Rs 4 crore to Rs 1 crore.
The tribunal set aside the penalty imposed on Modi over delayed repatriation, noting that the latter had already been suspended as the IPL commissioner when the money was brought back to India.
(With agency inputs)
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