Indian Premier League’s founding chairman Lalit Modi on Wednesday said that he is looking forward to returning to his homeland, India following the quashing of the Enforcement Directorate’s findings and penalties against him in connection with the 2009 IPL South Africa FEMA case.
“I am really looking forward to returning to India after a long long time,” he said.
Modi, however, added that he will continue to live in London but visit India from time to time to ensure his son earns his rightful place in the family business.
The development comes after the Appellate Tribunal under the Smugglers and Foreign Exchange Manipulators – Forfeiture of Property – Act (SAFEMA) set aside most of the ED’s findings and penalties in the 2009 IPL South Africa FEMA case against him and others.
Reacting to the tribunal’s order, Modi said that the judgment has vindicated what he has been saying for the last 16 years.
“I’m really happy with the verdict yesterday. It’s really been a great day. 16 years I have fought and whatever I have been saying to the media and to everybody has finally emerged as the truth. I’m really happy that the tribunal has ruled in my favour,” he said.
He said that his only concern was the well-being of the IPL and nothing else.
“Now that chapter is behind me, I’m going to move on in my life and I’m looking forward to coming back to India. I will come back probably end of this year or early next year. My daughter is due with my grandson in October and hopefully everything will be well and I’ll be back in India,” he added.