The Enforcement Directorate on Thursday slapped a fine of over ₹121 crore on the BCCI, its former head N Srinivasan, ex-IPL commissioner Lalit Modi and others for violating the Foreign Exchange Management Act. It was investigating the case for the alleged contravention of FEMA in transferring over ₹243 crore out of India to host the 2009 IPL in South Africa.