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

As nation lighted lamps, power grid delivered

As Indians switched off lights in homes and lighted lamps and candles Sunday night following prime minister Narendra Modi’s appeal as a gesture of solidarity in the fight against COVID-19, the power grid held up well despite the sudden drop in demand. In a short video message on Friday

3 out of 4 Covid-19 patients in 21-60 yrs age group

Contrary to the perception that the elderly are more at risk from Covid-19, in India as many as 41.88% of corona positive cases are between 21 to 40 years of age. Also, 32.82% positive cases are between 41 to 60 years, followed by 16.69% cases above the age of 60 years and 8.61% coronavirus positive cases

Why everyone should wear mask

In view of the increasing number of COVID -19 cases in the country, the ministry of health and family welfare (MoHFW) has now advised that everyone must voluntarily wear a mask and especially those living in densely populated areas.   Not just as a matter of maintaining personal hygiene

Fighting Covid-19, India has realized its collective strength: PM

In the face of the Covid-19 pandemic, people of India have realized their collective strength, prime minister Narendra Modi said in a short video message Friday morning. He also urged people to light lamps Sunday night as a gesture of this collectivity. “Today marks nine days of the na

COVID-19 demobilisation: Lessons for public governance

Demobilization, like its predecessor – demonetization, is another decision gone bad in implementation.  In both instances a careful public administrative action through its governance systems could have saved the magnitude of impact particularly on the most vulnerable sections of the society. Th

Don’t fear Corona, fight it

In a bid to break the “chain of transmission” of the deadly Covid-19, India, a country with more than 1.3 billion population, observed a voluntary ‘Janata Curfew’ on March 22. This has been followed by a 21-day, nationwide lockdown from March 24. Prime minister Narendra Modi also re



Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter