IPL Team Rajasthan Royals pay Rs 15 Cr Penalty to ED

Mumbai, March 19: Rajasthan Royals which is owned by Jaipur IPL Cricket PVT Ltd(JIPL) and co-owned by Raj Kundra has paid Rs.15 crore to the Enforcement Directorate as a part-payment of the Rs 100 crore penalty imposed by the agency two years ago.

The Enforcement Directorate had imposed the penalty in 2013 on JIPL and its foreign investors for the violation of Foreign Exchange Management Act. The penalty imposed on the JIPL is over Rs.50 crore, while rest of the penalty has been imposed on others. 

Sources in the Central agency said, "ED received penalty of Rs 15 crore from Jaipur IPL Cricket Pvt Ltd under FEMA. The Bombay High Court had directed JIPL to make a part payment before starting the hearing of its petition challenging the ED order".


ICC U19 World Cup: India trounce PNG by 10 wickets, secure quarterfinal berth

New Delhi: India trounced minnows Papua New Guinea by ten-wickets at the Bay Oval on Tuesday to secure a berth in the quarterfinals of the ICC Under-1...

Valena and Payal bag gold medal in National Karate meet

Kolkata: Odisha's Karate players Valena Valentina and Payal Baral have clinched one gold each in KAI Senior National Karate Championship-2018, which w...

Hyderabad Hunters edge Bengaluru Blasters in pulsating finale to win title

New Delhi:Hyderabad Hunters beat the Bengaluru Blasters in the grand finale of the Premier Badminton League to emerge as winners of Season 3.In the st...

ICC Under 19 World Cup: India trounce Australia by 100 runs

New Delhi: Skipper Prithvi Shaw and Manjot Kalra's opening partnership of 180 runs provided India U-19 cricket team a brilliant start against Australi...