The owners of Indian Premier League franchise, Rajasthan Royals, have been fined one billion rupees ($18.8million) for alleged foreign exchange violations.
The enforcement directorate of the ministry of finance said it had given the owners, who include Bollywood star Shilpa Shetty and her businessman husband Raj Kundra, 45 days to pay the fine.
"The foreign investment in the franchise was made in flagrant contravention of Foreign Exchange Maintenance Act," read a statement from the directorate. which also confirmed 24 notices had been issued to other IPL franchises and the Board of Control for Cricket in India on foreign exchange violations.
This is the first major fine imposed on an IPL team by the Indian government, which has been investigating financial and foreign exchange irregularities in the Twenty20 league.
"We are discussing the contents of the order with our lawyers and intend to launch a full appeal against the order," added a Rajasthan Royals official.
The Royals won the inaugural edition of the IPL in 2008 under the captaincy of former Australia spinner Shane Warne, but failed to qualify for the play-offs last year. The tournament's sixth edition will get underway on 3 April.