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The agency, which comes under the finance ministry, has issued, and will continue to issue, a number of show-cause notices to Modi
The Enforcement Directorate’s cases against former Indian Premier League commissioner Lalit Modi for multiple violations of the Foreign Exchange Management Act are set to continue, unhindered by the latest row involving external affairs minister Sushma Swaraj.
The ED started probing Modi in 2009.
The agency, which comes under the finance ministry, has issued, and will continue to issue, a number of show-cause notices not only to Modi, but also to the Board of Control for Cricket in India, other officials, and broadcasting and multimedia firms related to the Indian Premier League.
While serving ED officials refused to comment on the matter, citing the ongoing investigation, a former official said the investigations in all these cases were set to continue and that they would not be affected by the latest political scandal involving Swaraj’s help in enabling Modi to leave the country.
“There have been a number of notices which have been issued, and more will be issued.
“The cases will continue unaffected,” the official told Business Standard.
The person did not wish to be identified because of the sensitivity of the matter.
The Press Trust of India reported that ED is in the process of serving further penalty notices in 16 alleged forex violation cases amounting to an estimated Rs 1,700 crore (Rs 17 billion) against Modi.
Apart from these cases, two other instances of suspected contravention of foreign exchange laws and hawala transactions are also being investigated.
“The cases amount to violations of an estimated Rs 1,600 crore (Rs 16 billion) and the maximum penalty that can be slapped on the accused could be three times of this amount,” PTI quoted a sources as saying.
The agency had in February slapped a similar Rs 425-crore (Rs 4.25 billion) show-cause notice against Modi, former BCCI boss N Srinivasan, the IPL, and private multimedia firms for alleged contravention of forex laws in awarding a cricketing media rights contract in 2009.
The former ED official quoted above also said that the agency does not have the power to go after someone who has abetted an economic offender to leave the country.
Image: Lalit Modi; Photograph: Rediff Archives
