Rajasthan Royals get a massive relief after ED cuts down Rs 100 Crore FEMA fine to 15 Crore

The inaugural Indian Premier League champions Rajasthan Royals have been in the news in the past few days. However, on Wednesday, the Jaipur-based franchise got a massive relief as the Enforcement Directorate (ED) and Government of India have, reportedly, decided to cut down their fine from a whopping Rs 100 Crore to a mere Rs 15 Crore.

Rajasthan Royals, who had earlier served a two-year ban along with Chennai Super Kings thanks to the 2013 spot-fixing scandal, had run in a major coup when they were accused of violating the guidelines of the Foreign Exchange Management Act (FEMA), paving way for a fine of a Brobdingnagian amount of 100 crores. However, the Enforcement Directorate [ED], who has been investigating the matter have now decided to reduce the fine amount, paving way for a huge relief for the inaugural champions.

For the uninitiated, the case goes way back to the year 2010 when the Enforcement Directorate [ED] charged the franchise for breaching the guidelines while setting up a company called Jaipur IPL Cricket Pvt Ltd in 2008.

The Royals management is naturally ecstatic by the development and they released a statement following the decision of the case where they said, “After all the accusations against the people were not sustained and the team was fined only Rs 15 cr which is already paid,” said the franchise in a statement as quoted by Mumbai Mirror.

One of the Royals’ officials was quoted as saying, “It is a fact that the tribunal has given us relief and we are done with the case.”  

RCA quashes reports of an alleged rift between them and the Royals

Recently, there were reports in the media that Rajasthan Royals are mulling over shifting their base from Jaipur to Guwahati. According to the reports in leading newspapers, the Royals were dissatisfied with the infrastructure arrangements that Rajasthan Cricket Association (RCA) had offered. 

“Look at the stadium. It’s in such a bad state. The newly-elected body in RCA has just come in and they’ll need time even if they’re looking to correct things. The place has been a mess for quite some time now. Over the years, the RCA has failed to come up with good infrastructure anywhere outside of Jaipur,” one of the franchise representatives was quoted as saying by Hindustan Times.

It was also reported that the owners of the Rajasthan Royals were dissatisfied with the treatment meted out to them. However, Rajasthan Cricket Association secretary Mahendra Sharma shrugged off all the claims and said that there is no friction between the two governing bodies.