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1.
IPL
Stands for Indian Premier League. It's a cricket 20-20 tournament, where 8 teams(consisting of both Indians and otherwise)compete with each other.Billions of people all over the world, mostly from India, watch the IPL and the time the tournament is played is marked by the "IPL fever". Almost every person is expected to know something about the IPL, if not follow it.

It is usually conducted in the months of April and May.
Hey, movie tonight?
No.. I'm watching the IPL

or

Person 1:Dude, which IPL team you supporting?
Person 2:I LOVE the Delhi Daredevils!
Person 1: Who's their captain again?
Person 2: ....
by indigurl May 01, 2009
 
2.
ipl
Officially Indian Premier League, till 2010 run and operated by douchebag coke head Lalit Modi. Reduced to a joke and proved again that Indians are incapable of doing anything without stealing from it.
chirpy Indian guy: Hey man, IPL is awesome!!!
me: (punches chirpy Indian guy's face in)
by DhotiKing April 20, 2010
 
3.
IPL
In past lives. Places the subject into previous incarnations of one's soul, and expresses faith in reincarnation. A good way how to recognize hippies and New Age folk on the internet.
I'm so good at meditation, because IPL I had to live in India.

I'm afraid of cats, because a tiger ate me IPL.
by Roy Dest February 07, 2010