Former Indian Premier League chairman Lalit Modi has been cleared of charges related to the 2009 IPL tournament held in South Africa after a 16-year legal battle.

The Appellate Tribunal under SAFEMA overturned penalties imposed on Modi, rejecting the Enforcement Directorate's claim that foreign remittances were capital account transactions.The tribunal ruled the funds were current account transactions, and Modi was not responsible for BCCI's FEMA compliance.

Modi, who moved the IPL to South Africa due to India's general elections, called the verdict the end of the largest legal dispute from the 2009 event.He emphasized his cooperation with the legal process and expressed gratitude to his team and supporters.

The ruling underscores the importance of due process and evidence-based legal analysis, with Modi stating it marks the resolution of a significant chapter in his career.