Mumbai, Nov 28: Enforcement Directorate has issued notice to the BCCI to explain transfer and routing of funds to the tune of Rs 1,600 crore in the conduct of the second season of Indian Premier League cricket tournament.
The notice has been issued under the provisions of the Foreign Exchange Management Act (FEMA) regarding transfer of funds for IPL which was conducted in South Africa in 2009.
Besides BCCI, the notice has also been marked for former IPL Commissioner Lalit Modi, asking for explanation of the transfer of these funds. Modi is at present in London.
From: http://ping.fm/9EWe5
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