Lalit Modi cases come up in black money SIT meet

NEW DELHI: The Supreme Court-monitored special investigation team (SIT) on black money on Tuesday discussed the fresh developments in the Lalit Modi case and asked probe agencies for details about his alleged financial irregularities. When contacted, SIT cochairman Justice Arijit Pasayat refused to disclose details of the meet but said all sensitive cases where there was suspicion of black money were taken up by the SIT.

The SIT, which has the chief of the ED and the chairperson of the CBDT as members, discussed the several cases registered against Modi.The IPL ex-chief has 18 cases against him, most of which pertain to Foreign Exchange Management Act violations and one under Prevention of Money Laundering Act.

One of the major cases is where Modi bought shares in a company promoted by BJP MP Dushyant Singh, son of Rajasthan CM Vasundhara Raje, at a very high premium, investing Rs 11.63 crore. While the ED is investigating the transaction between Modi's Anand Heritage Hotels Pvt Ltd and Dushyant's Niyant Heritage Hotels Pvt Ltd, the income tax department is carrying out a parallel probe based on expenditure details on the former IPL chief and his family.

Amid allegations of receiving favours from external affairs minister Sushma Swaraj and Raje for restoring his travel documents, TOI had reported how Modi had also invested big money in Dushyant's firm in 2008-09.

The former IPL chief had received Rs 21 crore from an unknown Mauritius-based entity Wilton Investment Ltd and he invested a part of this money in Dushyant's firm.