New Delhi: Even as Lalit Modi is in the news over alleged irregularities in his travel documents, sources claim that two months back, the Enforcement Directorate (ED) conducted searches in Delhi and Gurgaon under the Prevention of Money Laundering Act.
During the searches, ED found evidence which showed that around Rs 125 crore had travelled to Mauritius and Cayman Islands. ED officials are probing whether the money was routed into the illegal accounts of Lalit Modi.
The probe also extends to the amount paid by Multi Screen Media to World Sports Group as 'facilitation' fees to withdraw from the telecast rights contract for the Indian Premier League (IPL).
Meanwhile, the Enforcement Directorate is in the process of serving final penalty notices to Lalit Modi in connection with forex violation cases amounting to an estimated Rs 1700 crores. This is a part of its wide-ranging probe in the alleged financial irregularities in various editions of the T-20 cricket extravaganza.
"About 16 cases being probed under the Foreign Exchange Management Act (FEMA) are in the final stages of adjudication, which means final orders for penalty will be served in the coming months against the accused which includes all the important functionaries of the IPL-BCCI including Modi. The cases amount to violations of an estimated Rs 1,600 crore and the the maximum penalty that can be slapped on the accused could be three times of this amount," a source said.
The agency sources said all the cases being probed against Modi and his associates in IPL-BCCI are related to various editions of the glamorous T-20 matches which were held in the country and specifically the second edition of the tournament which was held in South Africa in 2009.
Over the years, Modi and his team of lawyers have denied any wrongdoing in these instances.
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