Mallya arrested, but what about Lalit Modi?

Embattled sports tycoon Lalit Modi fled India in 2010 after he faced serious charges of financial irregularities

GN Bureau | April 18, 2017


#Vijay Mallya   #Lalit Modi   #money laundering   #FEMA   #Manmohan Singh   #IPL   #UPA  



Fugitive industrialist Vijay Mallya who fled India after banks tried to recover over Rs 8,000 crore owed by his now defunct Kingfisher Airline was arrested in Britain. Lalit Modi, who at one time was a cricket czar, could be next.
 
Union minister Jitendra Singh was quick to describe Mallya’s arrest as “a big success of Indian government and the finance ministry”.
 
BJP leader Subramanian Swamy told News18: “Thanks and congratulations to PM Modi for this. Modi means business and he was always in a fight against corruption. It's time for Mallya to go to jail.”
 
Mallya was reportedly presented in a court that granted him bail.
 
Vijay Mallya later tweeted: “Usual Indian media hype. Extradition hearing in Court started today as expected.”
 
Mallya had fled to Britain in March 2016.
 
Yet, another high profile person who too fled the country was sports administrator Lalit Modi, who created the IPL.
 
There are more than two dozen cases of financial irregularities, money laundering and criminal cases against Lalit Modi.
 
The Manmohan Singh government had initiated an investigation against Modi under the Foreign Exchange Management Act (FEMA). Modi was already in London when the UPA government revoked his passport.
 
One of the charges were that Lalit Modi, BCCI and few other officials appeared to have contravened the provisions of FEMA, 1999 to the extent of Rs 89 crore, reported India Today 
 
ED has issued showcause notice against Lalit Modi, BCCI, N Srinivasan and Niranjan Shah under FEMA - by accepting deposit of Rs 20 crore from Emerging Media (IPL) based in UK.  Also, the ED is probing the $80 million amount paid by Multi Screen Media (MSM) to World Sports Group (WSG).


 
 

Comments

 

Other News

Mofussils: Musings from the Margins

Provincials: Postcards from the Peripheries By Sumana Roy Aleph Book Company, 320 pages, Rs 899 Sumana Roy’s latest work, like its p

How to promote local participation in knowledge sharing

Knowledge is a powerful weapon to help people and improve their lives. Knowledge provides the tools to understand society, solve problems, and empower people to overcome challenges and experience personal growth. Limited sources were available to attain information on the events in and arou

‘The Civil Servant and Super Cop: Modesty, Security and the State in Punjab’

Punjabi Centuries: Tracing Histories of Punjab Edited by Anshu Malhotra Orient BlackSwan, 404 pages, Rs. 2,150

What really happened in ‘The Scam That Shook a Nation’?

The Scam That Shook a Nation By Prakash Patra and Rasheed Kidwai HarperCollins, 276 pages, Rs 399 The 1970s were a

Report of India’s G20 Task Force on Digital Public Infrastructure released

The final ‘Report of India’s G20 Task Force on Digital Public Infrastructure’ by ‘India’s G20 Task Force on Digital Public Infrastructure for Economic Transformation, Financial Inclusion and Development’ was released in New Delhi on Monday. The Task Force was led by the

How the Great War of Mahabharata was actually a world war

Mahabharata: A World War By Gaurang Damani Sanganak Prakashan, 317 pages, Rs 300 Gaurang Damani, a Mumbai-based el

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter