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ED lands major evidence against Lalit Modi, fetches cash trail details from Mauritius, Singapore

In a significant development in the alleged Rs 125 crore money laundering case against former IPL chief Lalit Modi, the Enforcement Directorate received the cash trail details of the companies and individuals from Mauritius and

India TV Business Desk, New Delhi [ Updated: October 30, 2016 7:47 IST ]
File photo of Lalit Modi
File photo of Lalit Modi

In a significant development in the alleged Rs 125 crore money laundering case against former IPL chief Lalit Modi, the Enforcement Directorate received the cash trail details of the companies and individuals from Mauritius and Singapore.

As per a report in The Times of India, ED officials claimed to have fetched important details regarding the transactions.

In order to increase its stack of evidences against Modi, the agency will send sending another Letters Rogatory (letter of request) to Mauritius and Singapore asking for more crucial details.

ED, which is probing money laundering and Foreign Exchange Management Act (FEMA) violation charges against Modi, stepped up its investigation in 2014 after his alleged links with some top BJP leaders came to light.

The ED registered a Prevention of Money Laundering Act (PMLA) case against the former IPL Commissioner following an FIR filed by the Chennai Police in October 2010 on a complaint by the Board of Control for Cricket in India (BCCI).

The FIR, naming Modi under the Indian Penal Code (IPC), was in connection with a deal between MSM Singapore (which owns the channel Sony) and WSG media, a sports marketing and event management company.

 

The case relates to the award of 10-year media rights for telecasting the IPL matches in 2009 to WSG for $918 million by the BCCI. WSG then entered into a deal with MSM making Sony the official broadcaster.

BCCI's contract with WSG was replaced later with a 9-year deal with MSM for $1.63 billion. Modi left India in 2010 as agencies such as ED and Directorate of Revenue Intelligence (DRI) began to probe his business dealings. Modi, for his part, claims there is threat to his life.

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