The Enforcement Directorate has slapped 100 crore rupees as penalty on the IPL team, Rajasthan Royals.

Our correspondent reports, the team owners have been penalised under Foreign Exchange Management Act (FEMA) contraventions.

The Directorate has issued showcause notice to the owners. It has been alleged that the owners of the IPL team have received some funds from abroad on illegal basis.

The team has been given 45 days to pay the penalty with anoption to appeal against the charges.