The Madras High Court, on Monday, lifted a legal barrier in completing adjudication proceedings pending against the Board of Control for Cricket in India (BCCI) since 2011 for alleged violation of Foreign Exchange Management Act (FEMA) during the Indian Premier League Season 2 conducted in South Africa in 2009.
Justice T. Raja dismissed a writ petition filed by former BCCI president N. Srinivasan in 2016, and consequently lifted an interim order that was in operation for about two years precluding the officials of the Directorate of Enforcement (ED) in Mumbai from proceeding with the enquiry until the disposal of the case.
According to Special Public Prosecutor G. Hema, the issue related to transfer of foreign exchange totalling $4,98,62,799 to Cricket South Africa, allegedly without the permission of the Reserve Bank of India, when the venue for IPL Season 2 was shifted from India to South Africa due to Parliamentary elections.
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