Court issue No Bail against Former IPL chief Lalit Modi

Court issue No Bail against Former IPL chief Lalit Modi- On Wednesday,Special court in Mumbai issued a No Bail warrant against former IPL chief Lalit Modi in charges related to money laundering based on Enforcement Directorate’s plea.

Last week, the Enforcement Directorate had moved the court seeking the issuance of the warrant. Special judge PR Bhavake asked the prosecution if the court had the power to issue such a warrant pending investigations. Despite repeated attempts, Modi’s lawyers did not respond to calls and SMS on his reaction in the matter.

Former IPL chief Lalit Modi, 49, was the flamboyant founder of the cash-rich Indian Premier League (IPL), the domestic 20-20 cricket tournament that turned into a blockbuster hit. But in 2010, he left the country amid allegations of tax evasion, money-laundering and proxy ownership embedded in the IPL. He has since refused to return to India, alleging death threats from the underworld.

With the issue of the NBW, Former IPL chief Lalit Modi faces arrest upon return to India and also the possibility of a Red Corner Notice if he fails to turn up. BCCI registered an FIR in Chennai against Former IPL chief Lalit Modi in 2010. In 2008, the cricket body had awarded 10-year media rights to WSG for USD 918 million. WSG then entered into a deal with MSM to make Sony the official broadcaster. The contract was replaced later with a nine-year deal where MSM paid WSG USD 1.63 billion.

The ED had filed the case against Former IPL Lalit Modi in 2012 under the PMLA in connection with a mega-deal for IPL telecast rights, and action followed a case lodged by the Board of Control for Cricket in India in Chennai against Former IPL chief Lalit Modi and others pertaining to the same matter.IMAGE/indianexpress.com

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