INDIAN PREMIER LEAGUE (IPL) former chairman Lalit Modi has announced that he will return to India later this year or in early 2027, ending a 16-year absence from the country following a major legal victory in the long-running Foreign Exchange Management Act (FEMA) case related to the 2009 IPL season in South Africa.
The announcement comes after the Appellate Tribunal under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act (SAFEMA) set aside most of the Enforcement Directorate’s (ED) findings and penalties against him.
In a statement following the verdict, Modi described the ruling as the culmination of a 16-year legal battle and said the tribunal’s decision had vindicated his long-standing position. He stated that the legal chapter surrounding the 2009 IPL case was now behind him and that he looked forward to returning to India to reconnect with family and friends. Modi indicated that he expects to return by the end of 2026 or in early 2027.
The tribunal’s judgment marked a significant setback for the Enforcement Directorate’s case. It held that the foreign remittances made in connection with staging the 2009 IPL in South Africa were current account transactions rather than capital account transactions, rejecting the ED’s central argument that prior approval from the Reserve Bank of India was required. The ruling effectively overturned the principal penalties imposed on Modi in the case.
The case originated after the IPL’s second season was relocated from India to South Africa in 2009 due to security concerns arising from the overlap between the tournament and India’s general elections. The ED subsequently launched investigations into overseas fund transfers, payments to Cricket South Africa and other financial transactions linked to organising the tournament abroad, alleging violations under FEMA.
In its order, the tribunal also found that Modi was not responsible for ensuring FEMA compliance on behalf of the Board of Control for Cricket in India (BCCI) and did not possess the financial authority attributed to him by the ED. While the tribunal upheld two limited FEMA violations involving the BCCI relating to excess remittance and delayed repatriation of funds, it set aside the majority of the enforcement agency’s findings against Modi and several other appellants.
Modi left India in 2010 amid multiple investigations into alleged financial irregularities connected with the IPL. Over the years, he has resided primarily in the United Kingdom while contesting various legal proceedings. Although the latest tribunal ruling represents a significant legal victory, it pertains specifically to the FEMA proceedings arising from the 2009 IPL in South Africa and does not resolve every legal matter that has involved Modi over the years.
