The Enforcement Directorate, which has issued a “lookout circular” against former Indian Premier League chairman Lalit Modi, is likely to book him under the Prevention of Money Laundering Act (PMLA) as well. The ED is already probing alleged Foreign Exchange Management Act (Fema) violations and the FIR filed by the BCCI for alleged misappropriation of `470 crore by Mr Modi.
The ED on Friday alerted airports and other entry points across the country to detain Mr Modi for alleged Fema violations. The former IPL chairman is currently in London. The “lookout circular” has been sent to all entry points and airports in the country along with his photographs and the agency has started the process of getting his passport revoked.
There are reports that Mr Modi allegedly invested a huge amount in some benami companies in tax haven countries, sources said.
The central revenue intelligence agency is likely to send a team of officials to Mauritius, Cyprus, the Caribbean Islands, Bahamas and Virgin Islands to find the link to some “benami” companies that have allegedly put money into certain IPL teams.