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HC dismisses ex-BCCI chief's plea challenging ED action

Press Trust of India  |  Chennai 

The today dismissed a plea by former Board of in N against the Enforcement Directorate's proceedings against the Board for alleged violation of the FEMA Act during the team-season 2 conducted in in 2009.

Justice T Raja passed the dismissal order, paving way for the ED to continue with its proceedings.

The said the issue had already been dealt by a division bench of the which had settled the issue and added that the petitioner cannot "agitate it again before this court."

The ED had initiated the proceedings under the Foreign Exchange Management Act (FEMA) against the BCCI in 2011 and issued notices to its erstwhile top officials, including and Prasanna Kumar, for transferring foreign exchange totalling USD 4,98,62,799 to without the permission of the Reserve Bank of

Assailing the proceedings, and had moved the high court.

On October 26, 2017, the ED had submitted to the court that it would not precipitate the matter till the next date of hearing.

After that the case was not listed for hearing.

Utilising the opportunity, the petitioners misinterpreted the submission made by the ED on October 26, 2017 as interim order of the court and were refusing to cooperate with the proceedings, the ED alleged.

On May 31, concluding its inquiry, the ED slapped a penalty of over Rs 121 crore on the BCCI, Srinivasan, former IPL and others for alleged FEMA violation during the 2009 IPL.

As per the ED's May 31 order, the BCCI is liable to pay Rs 82.66 crore, Srinivasan Rs 11.53 crore, Rs 10.65 crore, former BCCI 9.72 crore and the (now merged with the SBI) Rs 7 crore.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, July 09 2018. 21:20 IST
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