The plea of ​​the president of the former BCCI against ED is rejected



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Chennai: The Madras High Court dismissed the petition of N. Srinivasan, former chairman of the Cricket Control Board of India (BCCI), challenging the action of the Branch of the Supreme Court. Enforcement against the BCCI for violation of the provisions of the Foreign Exchange Management Act (Fema) during the IPL – season 2 conducted in South Africa in 2009.

Rejection of the petition Judge T. Raja stated that the matter had already been examined by the Bombay District Division and settled the problem. still agitate him in this court.

ED commenced proceedings before BCCI in 2011 and sent notices to its senior officers of the time, including Srinivasan and Prasanna Kannan, formerly IPL-CFO, for the transfer of foreign currency totaling US $ 4,988,622 to Cricket South Africa without permission from the Reserve Bank of India (RBI). Challenging the proceedings, Srinivasan and Prasanna asked the High Court. On October 26, 2017, the DG argued in court that he would not rush the case before the next hearing.

ED alleged that the Applicants misinterpreted the Executive Director's submission of October 26, 2017, as an interim measure. Meanwhile, on May 31, the ED fined more than 121 crore on BCCI, Srinivasan, former IPL Commissioner Lalit Modi and others for alleged violation of Fema during the 2009 IPL. The ED claimed that the BCCI is paying `82.66 crore, Srinivasan Rs 11.53 crore, Lalit Modi Rs 10.65 crore, former treasurer BCCI Pandove Rs 9.72 crore and the State Bank of Travancore (now merged with the SBI ) Rs 7 crore. 19659007] [ad_2]
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