Lalit Modi, former chairman of the IPL and member of the Modi family trust, announced his son, Ruchir Modi, would take over the Lalit Kumar Modi (LKM) branch.
Modi posted a letter on Twitter and said, “Given what I’ve been through, it’s time for me to retire and groom my kids.”
He wrote that his two children, Ruchir and Aliya, are the beneficiaries of the KK Modi Family Trust after the death of his wife, Minal Modi.
After talking with his daughter and considering his legal dispute with his mother and sister, Mr Modi decided to nominate his son, Ruchir.
Despite several rounds of settlement talks, there’s no end in sight to the former IPL chairman’s legal dispute. It’s long, tedious, and strenuous. It’s caused me immense distress and continues to do so.
He told the Supreme Court last year that the top court-mandated mediation didn’t work.
“After three weeks in confinement with a double covid in two weeks, accompanied by influenza and deep pneumonia…unfortunately, still on 27/7 external oxygen.”
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