In a major relief to former Indian Premier League chairman Lalit Modi, a tribunal has set aside a penalty order issued by the Enforcement Directorate against him and some others in a 15-year-old FEMA case related to hosting of the 2009 T-20 cricket tournament in South Africa.

Tribunal largely overturns FEMA charges against Lalit Modi and BCCI, upholding penalties on two specific counts.

In a major relief to former Indian Premier League chairman Lalit Modi, a tribunal has set aside a penalty order issued by the Enforcement Directorate against him and some others…