New Delhi: The Enforcement Directorate is in a routine of portion final chastisement notices in 16 purported forex defilement cases amounting to an estimated Rs 1,700 crore opposite former IPL authority Lalit Modi and others as partial of a wide-ranging examine in a purported financial irregularities in several editions of a T-20 cricket extravaganza.
High-level Enforcement Directorate sources pronounced detached from these cases, dual other instances of suspected transgression of unfamiliar sell laws and hawala exchange are also being investigated by a executive examine group and these embody investigations on a purpose of Modi.
Investigation in a third box of income laundering opposite a former cricket czar, sources said, is also “underway” that is associated to a purported misappropriation of supports in subsidy of cricket media rights by BCCI in 2009.
“About 16 cases being probed underneath a Foreign Exchange Management Act (FEMA) are in a final stages of adjudication, that means final orders for chastisement will be served in a entrance months opposite a indicted that includes all a critical functionaries of a IPL-BCCI including Modi.
“The cases volume to violations of an estimated Rs 1,600 crore and a a limit chastisement that can be slapped on a indicted could be 3 times of this amount,” a source said.
The agency, in February, had slapped a identical Rs 425 crore show-cause notice opposite Modi, former BCCI trainer Srinivasan, a IPL, private multimedia firms for purported transgression of forex laws in awarding a cricketing media rights agreement in 2009.
The sources combined that a income laundering case, purebred early this year, has been filed by a group formed on an FIR filed by Srinivasan with Chennai military for suspected clumsy of supports in awarding media rights for broadcasting BCCI-IPL cricket matches.
The group sources pronounced all a cases being probed opposite Modi and his associates in IPL-BCCI are associated to several editions of a glamorous T-20 matches that were hold in a nation and privately a second book of a contest that was hold in South Africa in 2009.
Over a years, Modi and his group of lawyers have denied any indiscretion in these instances.