Former IPL chairman Lalit Modi has claimed a major legal victory after the Appellate Tribunal under SAFEMA set aside penalties imposed on him in connection with the 2009 Indian Premier League held in South Africa. The ruling came after more than 16 years of investigations and legal proceedings.

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…