ED seals two of Lalit Modi's Singapore bank accounts: Reports
The Enforcement Directorate (ED) has sealed two Singapore bank accounts of former IPL czar Lalit Modi.
New Delhi: The Enforcement Directorate (ED) has sealed two Singapore bank accounts of former IPL czar Lalit Modi.
As per the media reports, after tracing Lalit Modi’s accounts, the ED officials contacted Singapore authorities and have requested them to send the money back to India. It is learnt that the formalities are in last stage.
Earlier, a special Mumbai court had accepted the ED's plea for a non-bailable warrant (NBW) against Modi.
The Special Prevention of Money Laundering Act (PMLA) court then issued a non-bailable arrest warrant against Modi in connection with money laundering case.
Last month, the court had issued letters rogatory (LR) to Singapore and Mauritius, seeking assistance from authorities there in the case.
BCCI registered an FIR in Chennai against Modi in 2010. In 2008, the cricket body had awarded 10-year media rights to WSG for USD 918 million. WSG then entered into a deal with MSM to make Sony the official broadcaster. The contract was replaced later with a nine-year deal where MSM paid WSG USD 1.63 billion.
In 2009, ED started a probe under Foreign Exchange Management Act (FEMA) to investigate the allegation that payment of Rs 425 crore facilitation fee by MSM Singapore to WSG Mauritius had been made in an unauthorised manner.