Lalit Modi vs BCCI: Supreme Court Rejects former IPL Chairman’s Plea Directing Cricketing Body to Pay ₹10.65 Crore FEMA Penalty

The Supreme Court has rejected former IPL Chairman Lalit Modi's plea seeking directions to the Board of Control for Cricket in India (BCCI) to pay a ₹10.65 crore penalty imposed on him under the Foreign Exchange Management Act (FEMA). This decision marks a significant development in the long-standing legal battles involving Modi and the BCCI. Modi had likely argued that the penalty, stemming from alleged FEMA violations during his tenure, should be borne by the cricketing body. However, the Supreme Court's rejection indicates that it found no legal basis to compel BCCI to shoulder Modi's personal penalty. The ruling underscores the principle of individual accountability for regulatory violations. This case highlights the complexities of financial regulations in sports administration and the legal repercussions faced by individuals for non-compliance with laws like FEMA. The decision brings clarity to a high-profile dispute, reaffirming the legal stance on financial liabilities.