ED to soon slap penalty notices in 16 cases against Modi, others

June 15, 2015 21:58

The Enforcement Directorate is in the process of serving final penalty notices in 16 alleged forex violation cases amounting to an estimated Rs 1,700 crore against former IPL chairman Lalit Modi and others as part of its wide-ranging probe in the alleged financial irregularities in various editions of the T-20 cricket extravaganza.

High-level ED sources said apart from these cases, two other instances of suspected contravention of foreign exchange laws and hawala transactions are also being investigated by the central probe agency and these include investigations on the role of Modi.

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