Lalit Modi serious on oxygen support in London, big decision taken on property worth 4555 crores
Modi has resigned from the Family Trust and has announced handing over the reins to son Ruchir
Former IPL chairman Lalit Modi is on oxygen support in London. He has come under the grip of Corona for the second time in two weeks. In the condition of his illness, he took a big decision. He handed over everything to the children. Lalit Modi was airlifted from Mexico City three days ago and admitted to a hospital in London. From the hospital itself, Modi resigned from the family trust and announced handing over the reins to son Ruchir.this way Lalit Modi has handed over property worth 4555 crores to Ruchir.
Lalit Modi will no longer be a beneficiary of the trust. He immediately handed over the property of businessman KK Modi Family Trust to his son Ruchir Modi. He has also announced his resignation. A legal battle is going on between Lalit Modi’s mother Bina and sister regarding this trust. His mother Bina Modi declined to comment on the verdict.
Lalit Modi tweeted-
I learned from the phase I went through that now is the time to retire and move on. It’s time to let the kids take the lead, I’m handing them all over.
Lalit Modi has written a letter to the members of KK Modi Family Trust. He said that the matter between his mother and sister has been going on for a long time, no solution has been found even after several talks for reconciliation, which has caused a lot of trouble. He wrote that this decision has been taken only after discussion with daughter Alia.
Lalit Modi wrote-
I want to say, both my children are equal beneficiaries, but the leader can be only one. My daughter is very smart, but unfortunately she doesn’t want this role.
Lalit Modi has mentioned the mistake made by his father in dividing the family due to a dispute with his sister and mother. In the tweet, he wrote- I am very happy, at the age of 59 this is the right time, but my father does not have time to do this for the next generation. I don’t want to repeat that big mistake.
Lalit Modi started IPL. He was the Vice President of BCCI from 2005 to 2010. He was the chairman and commissioner of the IPL from 2008 to 2010. In 2010, Lalit was suspended from the post of IPL commissioner on allegations of rigging. He was also suspended from the BCCI. Lalit fled the country in 2010 after being indicted in a money laundering case.
Lalit Modi came into limelight in 2022 regarding his relationship with Sushmita Sen. He shared pictures of the special bond with Sushmita Sen. Earlier speculations were rife that the two were married, but Modi himself denied it.
