ED notice to BCCI

The notice has been issued under the provisions of the Foreign Exchange Management Act (FEMA) regarding transfer of funds for IPL which was conducted in South Africa in 2009.

Besides BCCI, the notice has also been marked for former IPL Commissioner Lalit Modi, asking for explanation of the transfer of these funds. “The notices pertain to questions on the routing and investment of funds during the IPL second edition,” ED sources said.

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