Former IPL chairman Lalit Modi is on oxygen support in London. He has got corona for the second time in two weeks. In the midst of illness, he took a big decision. He handed over everything to the children. Lalit Modi was airlifted from Mexico City three days back and admitted to the hospital in London. From the hospital itself, he resigned from the Family Trust and announced handing over the command of the family to son Ruchir.
Tweeted information about retirement
Lalit Modi handed over the Lalit Kumar Modi (LKM) branch of KK Modi Family Trust to son Ruchir. Lalit Modi will no longer be the beneficiary of the trust. He also announced his resignation. The legal battle between Lalit Modi's mother Bina and sister is going on regarding this trust. His mother Bina Modi has refused to give any reaction on this decision.
Lalit Modi tweeted- The lesson I got from the phase I went through is that now is the time to retire and move on. It's time to raise the kids, I'm entrusting them all.
In this picture Lalit Modi is seen with wife Meenal, daughter Alia and son Ruchir at Serengeti National Park in Tanzania. Meenal died in 2018 due to cancer. Lalit Modi married Meenal, 9 years elder to himself, in 1991.
In this picture Lalit Modi is seen with wife Meenal, daughter Alia and son Ruchir at Serengeti National Park in Tanzania. Meenal died in 2018 due to cancer. Lalit Modi married Meenal, 9 years elder to himself, in 1991.
Letter written to members of KK Modi Family Trust, 3 important things
1. Dispute between mother and sister for a long time, no solution found
Lalit Modi has written a letter to its members regarding the KK Modi Family Trust. Said that the cases between his mother and sister have been going on for a long time, no solution has been found despite several rounds of talks for settlement, this has caused a lot of trouble. He wrote that this decision has been taken only after discussing with daughter Alia.
2. Both my children are equal but the leader can be only one
Lalit Modi wrote- I want to say, both my children are equally beneficiaries, but the leader can be only one. My daughter is very smart, but unfortunately she doesn't want the role. Once on the instructions of the chairman, he was taken out of the office and locked. The second time the Speaker removed her car while she was out for dinner. She cannot handle the animosity created after my father's death.
3. I don't want to repeat my father's mistake
Lalit Modi has mentioned the mistake made by his father regarding division in the family due to the dispute with his sister and mother. Wrote in the tweet- I am feeling very happy, at the age of 59 this is the right time, but my father did not have time to do this for the next generation. I don't want to repeat that huge mistake.
Last year's attempt to reach an agreement failed.
The court had initiated a settlement on the ongoing legal battle between Lalit Modi, his mother Bina Modi and sister over the KK Modi Family Trust. In 2022, on behalf of Lalit Modi, famous lawyer Harish Salve and other lawyers including Kapil Sibal on behalf of his mother negotiated the settlement, but no solution could be found.
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