Special Mumbai Court Issued Non Bailable Arrest Warrant Against Ex IPL Chairman Lalit Modi : A Special Mumbai court on Wednesday issued a non-bailable warrant against ex chairman of Indian Premier League (IPL) Lalit Modi in an ongoing money laundering investigation by the Enforcement Directorate (ED). The special court was hearing a petition filed by ED seeking a non-bailable warrant against Modi, in connection with a criminal investigation. The agency had moved court on July 27 after Modi failed to respond to summons issued by ED in a case registered against him under the Prevention of Money Laundering Act. Now below get complete details of Non Bailable Arrest Warrant Against Lalit Modi.
Special Mumbai Court Issued Arrest Warrant Against Lalit Modi
Modi was instrumental in founding and overseeing the money-spinning IPL in 2008 before fleeing to London two years later when tax and financial crime authorities raided his premises. Enforcement Directorate officers want to speak to him in connection with allegations that proceeds from the TV deal were funnelled to unauthorised beneficiaries in Singapore and Mauritius.
The Multi Screen Media (MSM) of Sony Entertainment paid a facilitation fee of 4.25 billion rupees ($67 million) to the Mauritius arm of World Sports Group (WSG) as part of a contract for taking over broadcast rights to IPL. The Enforcement Directorate is probing if part of this fee was allegedly siphoned off to unknown individuals, at the behest of Modi who was then IPL chairman.
Modi has more recently been embroiled in controversy with Foreign Minister Sushma Swaraj who is under pressure to resign over her role in helping him gain a passport in Britain. Modi was removed as chairman in 2010 and later banned for life from holding any positions in the sport by the powerful Board of Control for Cricket in India (BCCI).
Source : cricbuzz.com
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