Vanuatu’s Prime Minister Jotham Napat has ordered the revocation of Lalit Modi’s passport, following his application to surrender his Indian passport. Modi, facing fraud and money laundering accusations in India, had recently obtained Vanuatu citizenship through its Citizenship by Investment programme, which allows for expedited processing and has significant economic implications for the nation.

Jotham Napat, the Prime Minister of Vanuatu, has instructed the Citizenship Commission to revoke Lalit Modi’s Vanuatu passport, as stated by news agency PTI. This action follows Modi’s recent application to surrender his Indian passport at the Indian High Commission located in London. Reports indicated that the founder of the Indian Premier League (IPL) had obtained citizenship from Vanuatu, renowned for its Citizenship by Investment (CBI) programme.

Lalit Modi, a former vice-president of the Board of Control for Cricket in India (BCCI), faces allegations of bid-rigging, money laundering, and transgressions of the Foreign Exchange Management Act (FEMA) of 1999. He departed India in 2010 amidst investigations for financial improprieties, including unauthorized fund transfers. The Indian government, represented by Randhir Jaiswal from the Ministry of External Affairs, confirmed that it continues to pursue legal actions against Modi.

Vanuatu’s Citizenship by Investment programme facilitates the acquisition of a passport in as little as 30 to 60 days. The costs range between $135,500 and $155,500 (approximately Rs 1.18 crore to Rs 1.35 crore) and contribute nearly 30 percent to the country’s national revenue. Additionally, this programme allows applicants to gain citizenship without the requirement of residing in Vanuatu.

In summary, Vanuatu’s Prime Minister has indicated the cancellation of Lalit Modi’s passport following his questionable acquisition of citizenship. As Modi faces significant legal challenges related to financial misconduct in India, the developments highlight the intersection of international law and citizenship regulations. Vanuatu’s Citizenship by Investment programme remains a critical source of revenue, characterized by its expedited process and minimal residency requirements.

Original Source: www.business-standard.com

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