ED slaps `121 crore fine on BCCI

New Delhi: The Enforcement Directorate (ED) on Thursday slapped a penalty of over Rs 121 crore on the Board of Control for Cricket in India, its former boss N Srinivasan, former IPL Commissioner Lalit Modi and others for alleged violation of the Foreign Exchange Management Act (FEMA) during the second edition of the IPL in 2009, officials said.

A special director of the central probe agency here levied a penalty of Rs 82.66 crore on the BCCI, Rs 11.53 crore on chairman Srinivasan, Rs 10.65 crore on  Modi, Rs 9.72 crore on former BCCI treasurer M P Pandove and Rs 7 crore on the State Bank of Travancore.