ED issues notice to BCCI regarding IPL 2 fund transfer

MUMBAI: The Enforcement Directorate (ED) has issued a notice to cricket?s richest board, the BCCI, to explain transfer and routing of funds to the tune of Rs 16 billion 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 the second edition of the IPL, which was conducted in South Africa in 2009.

Besides the BCCI, the notice has also been marked for former IPL chairman and commissioner Lalit Modi, asking for an explanation of the transfer of these funds.