Lalit Modi may lose passport

Oct 09, 2010 |

Correspondent

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New Delhi, Oct. 8: The Enforcement Directorate, which issued a ‘blue notice’ for information about the former IPL chairman, Mr Lalit Modi's whereabouts and activities on October 1, may request the authorities concerned for revoking his passport if he fails to appear before the probe agencies within 15 days of the notice.

The ED, which is probing Foreign Exchange Management Act (FEMA) violations against Mr Modi, had issued several summons to him in the last few months. He has not replied to the summons served, sources said, adding that now the agency would have no option except to get his passport revoked, if he fails to appear before the ED within 15 days.

“Besides, the ED may also impose penalty on Mr Modi for FEMA violations. If a person is booked under FEMA, the ED imposes penalty also which is normally three times of the actual amount of the violation”, sources said. On the basis of initial probe, the agency officials believe that Mr Modi is allegedly involved in the FEMA violation to the tune of Rs 250 to Rs 300 crore, sources added.

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