By NewsGram Staff Writer
The alleged Rs 125 crore money-laundering case related to allotment of broadcasting rights for IPL matches in 2009 against Lalit Modi has been lying in the docks for almost 6 years now.
The case is beginning to show some headway with the Enforcement Directorate (ED) asking for assistance from Singapore and Mauritius to tighten its case against Lalit Modi.
The process of issuing a letter of request under the Prevention of Money Laundering Act (PMLA) to countries, including Singapore and Mauritius, was started by the ED on Monday.
The letter asks the countries to provide account details of companies and individuals suspected to be involved in money transactions.
“After examining those details, the ED may ask for issuance of a red-corner notice against Modi or can ask for his extradition,” said a senior ED officer.
Under rules governing letter of intent formalities with Singapore and Mauritius, the countries will have to provide the requested details in a time-bound manner.
The ED has earlier issued notices to Modi under the Foreign Exchange Management Act (FEMA), which is governed by civil laws and usually ends with a monetary penalty.
But PMLA is governed by criminal laws and allows for the accused to be arrested.
The money laundering case is related to a complaint filed by former president of the Board of Control for Cricket in India (BCCI) N Srinivasan against Modi in Chennai in 2010.
Modi had been charged for misappropriation of Rs 425 crore while allotting media broadcasting rights of IPL in 2009. The allegations said Modi got Rs 125 crore from the deal.
In 2009, BCCI had awarded IPL media rights to World Sports Group (WSG) initially for 10 years.
Later, the rights were reissued to Multi-Screen Media (MSM), which was made to pay Rs 425 crore to WSG for relinquishing the rights.
“There was no agreement between the BCCI and WSG and WSG had no rights to relinquish”, officials told TOI.
The Lalit Modi controversy has cast a dubious light on external affairs minister Sushma Swaraj and Rajasthan chief minister Vasundhara Raje, with the opposition alleging wrongdoing and BJP stonewalling the allegations.