Rajasthan Royals: Enforcement Directorate(ED) slaps 100 Crore penalty

Rajasthan Royals: Enforcement Directorate(ED) slaps 100 Crore penalty

Tags: IPL, IPL 2013, Rajasthan Royals

Published on: Feb 04, 2013

IPL team Rajasthan Royals: The Enforcement Directorate (ED) has slapped a penalty notice of Rs 100 crore for allegedly violating forex laws to Rajasthan Royals.

IPL team Rajasthan Royals: The Enforcement Directorate (ED) has slapped a penalty notice of Rs 100 crore for allegedly violating forex laws to Rajasthan Royals.

The Enforcement Directorate (ED), which issued the penalty notice after a two years of investigations under the Foreign Exchange Management Act (FEMA), has sent out three separate notices to the IPL franchise totalling to Rs 98.5 crore plus.

While a Rs 50 crore penalty has been slapped on Jaipur IPL Cricket Private Limited (JIPL) and owners of Rajasthan Royals, Rs 34 crore notice for evasion of forex duties has been issued against EM Sporting Holding, Mauritius and its directors.

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