IPL 2009: ED slaps Rs 121 crore penalty on BCCI, others for violation of FEMA law

Agencies
June 1, 2018

Mumbai, Jun 1: The ED today slapped a penalty of over Rs 121 crore on the BCCI, its former boss N Srinivasan, former IPLcommissioner Lalit Modi and others for alleged violation of the FEMA law during the T-20 cricket IPL edition in 2009, officials said.

A special director of the central probe agency here levied a penalty of Rs 82.66 crore on the Board of Control for Cricket in India (BCCI), Rs 11.53 crore on its former chairman Srinivasan, Rs 10.65 crore on ex-IPL commissioner Modi, Rs 9.72 crore on former BCCI treasurer M P Pandove and Rs 7 crore on the State Bank of Travancore (now merged with the SBI).

The total penalty amount was Rs 121.56 crore, they said.

The ED was investigating the case for the alleged contravention of the Foreign Exchange Act (FEMA) in transferring over Rs 243 crore out of the country to host the 2009 Indian Premier League edition in South Africa.

The FEMA order stated that this transfer of funds was in alleged violation of the RBI guidelines meant for transferring funds abroad.

The order asked the accused to deposit the fine amount in the government exchequer within 45 days time.

The T-20 IPL cricket tournament, that began in 2008, saw its 11th edition wrapping up recently.

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News Network
April 30,2020

New Delhi, Apr 30: Indian skipper Virat Kohli on Thursday mourned the demise of veteran Bollywood actor Rishi Kapoor, called his death 'unreal and unbelievable' loss.

"This is unreal and unbelievable. Yesterday Irrfan Khan and today Rishi Kapoor ji. It's hard to accept this as a legend passes away today. My condolences to the family and may his soul rest in peace," Kohli tweeted.

Opening batsman Shikhar Dhawan also expressed his heartfelt condolences to the family and friends of the deceased.
"It's shocking to hear about the sudden demise of #RishiKapoor ji. My heartfelt condolences to his family and friends. May his soul rest in peace," Dhawan tweeted.

Earlier today, actor Amitabh Bachchan confirmed the news of the demise of the 67-year-old Rishi Kapoor. Rishi Kapoor was admitted to the Sir HN Reliance Foundation Hospital in Mumbai on Wednesday.

In September 2019, the veteran actor returned to Mumbai after staying in New York for almost a year for cancer treatment.

He was last seen in the 2019 film 'The Body' alongside Emraan Hashmi and Shobita Sobhita Dhulipala.

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News Network
June 20,2020

Dhaka, Jun 20: Former Bangladesh skipper Mashrafe Mortaza on Saturday tested positive for coronavirus.

The skipper had gone for a coronavirus Test last week, and now his reports have come back as positive, ESPNCricinfo reported.

As per a report in ESPNCricinfo, it is not known how Mortaza contracted the virus.

Mashrafe, also a member of the parliament from Narail 2 constituency, had stepped down as the ODI captain of the country in March this year.

Covid-19 cases have crossed 1,00,000 mark in Bangladesh and the government is now planning area-wise lockdown.

Bangladesh was slated to face Sri Lanka in July in a three-Test series and the side would have later hosted New Zealand in August, but both series look unlikely now.

The Asia Cup, scheduled for September, is also uncertain due to the coronavirus.

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News Network
March 4,2020

Mar 4: The BCCI has decided to implement strict cost cutting measures with the notable decision being IPL 2020 champions' prize money will be halved as compared to 2019. In a circular sent to all IPL franchises, the BCCI has notified that instead of a whopping Rs 20 crore, the IPL champion team will now receive Rs 10 crore only. "The financial rewards have been reworked as a part of the cost cutting measures. The champions will get Rs 10 crore instead of Rs 20 crore. The runners-up will get Rs 6.25 crore from earlier Rs 12.5 crore," a BCCI notification, in possession of news agency, read.

The two losing qualifiers will now get Rs 4.375 crore each.

"The franchises are all in good health. They also have multiple ways like sponsorships to bolster their income. Hence the decision on prize money taken," a senior BCCI source said.

However, a state association hosting IPL games will get Rs 1 crore each with franchises and BCCI contributing Rs 50 lakh each.

It has also been learnt that mid-level BCCI employees won't be allowed to avail business class flights like earlier times for flying to the Asian countries (Sri Lanka, Bangladesh, UAE) where the flying time is less than eight hours.

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