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Lalit Modi Cleared In Key 2009 IPL South Africa Case After Tribunal Verdict

Former chairman Lalit Modi was cleared in the principal proceedings arising from the 2009 Indian Premier League's staging in South Africa after the Appellate Tribunal under SAFEMA set aside the penalties imposed on him, rejecting the Enforcement Directorate's core case that the foreign remittances were capital account transactions.Announcing the verdict after more than 16 years of investigations, proceedings, and litigation, Modi said the tribunal found that the main remittances related to IPL 2009 were current account transactions. It also determined that he was not responsible for the BCCI's statutory FEMA compliance or given the financial authority as alleged by the Enforcement Directorate. Calling it the end of the largest legal dispute stemming from the 2009 South Africa edition of the IPL, Modi said, "This marks the end of what has been the single most significant legal matter arising from the 2009 South Africa IPL." He added, "For over sixteen year...
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"It All Went South": Jack Dorsey Criticises Musk Over Twitter Leadership

Almost a year after stating that Elon Musk is the "singular solution" he trusts to run Twitter, Jack Dorsey seems to have changed his stance on Mr Musk's leadership of the microblogging website. On Friday, the former CEO of Twitter issued his sharpest criticism yet of Mr Musk's leadership of Twitter, saying that the tech billionaire has not proved to be the platform's ideal steward and should have walked away from buying the site. 

Mr Dorsey criticised Mr Musk in a series of reply posts on the social network Bluesky, a potential Twitter rival that Mr Dorsey helped to start. According to The Washinton Post, he responded to a question from a Bluesky user regarding whether he felt that Mr Musk proved the "best possible steward". 

"No. Nor do I think he acted right after realizing his timing was bad. Nor do I think the board should have forced the sale. It all went south. But it happened and all we can do now is build something to avoid that ever happening again. So I'm happy Jay and team and nostr devs exist and building it," Mr Dorsey said. 

Also Read | Curvy Mermaid Statue In Southern Italy Sparks Outrage For Being "Provocative"

According to Fortune, in another post, Mr Dorsey also stated that Mr Musk should have walked away by paying 1 billion dollars to the board. "If Elon or anyone wanted to buy the company, all they had to do was name a price that the board felt was better than what the company could do independently. This is true for every public company. Was I optimistic? Yes. Did I have final say? No. I think he should have walked away and paid the $1b," he stated. 

Further, responding to a post in which a user said, "It's pretty sad how it all went down," Mr Dorsey replied simply: "Yes". 

Notably, it was not long ago when Mr Dorsey had said that if Twitter had to be a company at all, "Elon is the singular solution I trust".

"In principle, I don't believe anyone should own or run Twitter. It wants to be a public good at a protocol level, not a company. Solving for the problem of it being a company however, Elon is the singular solution I trust. I trust his mission to extend the light of consciousness," he tweeted in 2022 before Mr Musk's Twitter acquisition had come to fruition. 



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