Lalit Modi - Latest News Update, Information, Photos & Videos on Lalit Modi at Lokmat Times

Former IPL Chairman Lalit Modi, who was banned for his life from the BCCI owing to accusations behind the source for facilitation fee, has finally been able to prove his side innocent. The Bombay High court had declared in favour of Modi stating that the facilitation fee, (an amount that MSM (Sony) was to pay to WSG (Mauritius) or WSGM,) which led to the expulsion of Modi from both BCCI and the IPL, has been deemed as legal.Justice BP Colabawala of the Bombay High Court adjudged that the WSGI, which owned IPL’s rights in the 2008-17 period, helped BCCI earn Rs. 1791 crore more and “acted in the interest of the BCCI”. Further, the facilitation free to the tune of Rs. 425 crore was held a bona fide clause by the court with respect to the three-party agreement among the BCCI-WSGI-MSM. Earlier, the BCCI claimed that only Modi was aware of it, however, the court ruled that all the parties were aware.Modi mentioned that he had taken a lot of effort in building up the IPL which has grown into a massive business at the moment. He predicted the tournament to become a global entertainment property in a few years. Modi added that despite all, he ensured that the tournament was live on TV without any cost for the fans.“Time is a factor, I single-handedly built the IPL. Not that I care but the BCCI banned me for life. Guess what I made recession (economic slowdown of 2008) Modi proof. Mark my words it will be a global showpiece from India. It will be a big entertainment property globally. And I did it free of cost for my country to watch on TV,” Modi told Cricbuzz on Sunday. Modi, who is currently in the UK, revealed the “sad part” of the wrong accusations against him as he and his family have been refused to enter the grounds on a paid ticket. He claimed that he will take legal action against the BCCI from the UK court for all that he had to face for so many years. “The sad part is the petty members, who live off my creation, are so scared of my shadow that they even refused entry to my children on a paid ticket. Only question now is what will media say – fugitive? Go ahead try. Now I will sue all in the UK, then see the fun (sic),” he added.Lalit Modi was the founder and first chairman and Commissioner of the Indian Premier League (IPL), and ran the tournament for three years until 2010. He also served as the Chairman of the Champions League during 2008–10. He was the Vice President of the Board of Control for Cricket in India (BCCI) during 2005–10. He has also served as the President of the Rajasthan Cricket Association (2005–09 and 2014–15), and as the Vice President of the Punjab Cricket Association. In 2010, Modi alleged that the Indian National Congress minister Shashi Tharoor held indirect free equity in the Kochi Tuskers Kerala IPL franchise, ultimately leading to Tharoor's resignation. The Kochi franchise alleged that Modi was harassing them, because he wanted another group to win the franchise bid. Shortly after IPL 2010 ended, Modi was suspended from BCCI after being accused of misconduct, indiscipline and financial irregularities. BCCI launched an investigation against him, and banned him for life in 2013 after a committee found him guilty of these charges. Modi denied any wrongdoing, and blamed accusations on political rivalries. Shortly before the Enforcement Directorate (ED) launched an investigation against him for alleged financial irregularities, Modi moved to London.

Lalit ModiFOLLOW

Lalit modi, Latest News

All eyes are on IPL founder Lalit Modi and actor Sushmita Sen ever since the former announced that he is in a relationship with the Miss Universe 1994. ...

Mumbai, July 15 Hours after IPL founder Lalit Modi shared pictures of himself with actress and former Miss ... ...

Lalit Modi, the first founder of IPL, shared a tweet announcing his relationship with actress Sushmita Sen. Sushmita and ... ...

New Delhi, July 14 Former IPL Chairman Lalit Modi on Thursday announced that he is dating Bollywood actress ... ...

Sushmita Sen is married to Lalit Modi; the businessman announces surprising development on social media. Lalit Modi shared pictures ... ...

New Delhi, July 14 Former IPL Chairman Lalit Modi on Thursday announced that he is dating Bollywood actress ... ...

The E-Auction for media rights of cricket’s hottest property, IPL, is going on in Mumbai for the 3 day ... ...

Former IPL Chairman Lalit Modi, who was banned for his life from the BCCI owing to accusations behind the ... ...