India, July 22 -- Former Indian Premier League (IPL) chairman Lalit Modi has announced plans to return to India, nearly 14 years after leaving the country, following a major legal victory in the long-running 2009 IPL South Africa case.

A tribunal under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act (SAFEMA) on Tuesday set aside most of the Enforcement Directorate's (ED) findings and penalties linked to alleged violations of the Foreign Exchange Management Act (FEMA), handing Modi significant relief.

Reacting to the verdict, Modi said the ruling vindicated his stand after a legal battle spanning over 16 years.

"I'm really happy with the verdict. For 16 years, I have fought, and whatever I have been saying t...