Ending a 16-year legal saga, the Appellate Tribunal rules that foreign exchange remittances for the tournament were current account transactions, clearing the former IPL chief of wrongdoing.

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…