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Enforcement Directorate issues summons to Lalit Modi in money-laundering case

The agency has given three week's deadline to Modi to present before ED officials in Mumbai.

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The Enforcement Directorate (ED) has issued summons to former Indian Premier League (IPL) commissioner Lalit Modi for alleged embezzlement of funds and cheating the cricketing body in the award of telecast rights.

The agency has given three week's deadline to Modi to present before ED officials in Mumbai.

"We have issued a summons to Lalit Modi under the Prevention of Money Laundering Act (PMLA). We need to record his statement on the respective charges, before filing a charge sheet," a senior ED official told dna.
But Modi said in a tweet: "I have received no summons. They know where I live in London. Awaiting the same."

According to ED sources, the money-laundering case, registered early this year, has been filed by the agency, based on an FIR filed by former BCCI president N Srinivasan with the Chennai police for suspected bungling of funds in awarding media rights for broadcasting the BCCI-IPL cricket matches.

ED has also carried out searches in Gurgaon and Delhi to probe this deal, which, it suspects, generated tainted funds.

According to ED officials, Modi was suspected to be the beneficiary of Rs 125 crore in the 'facilitation fees' scam of Rs 425 crore.

BCCI CEO Sundar Raman and Multi Screen Media CEO Manjit Singh are among others whose statements were already recorded last week under the PML Act.

In February this year, Modi was among the accused who were slapped with show- cause notice for the same case under the Foreign Exchange Management Act (FEMA).

The interim investigation report submitted by ED showed that Modi might be a beneficiary of the Rs 125 crore already paid by Multi Screen Media to World Sports Group Mauritius (WSGM) in the Rs 425-crore facilitation fee scam.

The scam revolves around the 10-year media rights of IPL matches awarded to WSG, starting 2009. The total contract value was Rs 4,792 crore.

The agency will also soon issue a letter rogatory (LR) to the UK government, seeking bank details of Lalit Modi since 2009. Under PMLA, governments can seek financial details of any resident individual.

For the last five years, the ED has been probing the case under FEMA filed by the BCCI in 2010 in Chennai for the alleged misappropriation of funds by Modi. But the agency has not questioned Modi so far.

About 16 cases being probed under FEMA are now in the final stages of adjudication, which means final orders for penalty will be served in the coming months against the accused, which includes all the important functionaries of IPL-BCCI, including Lalit Modi.

The investigation is still under way, which is related to the alleged misappropriation of funds in allotment of cricket media rights by BCCI in 2009.

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