Lalit Modi, a former vice-president of the Board of Control for Cricket in India (BCCI) and former chairman of the Indian Premier League (IPL), said on Sunday, January 15, that his son Ruchir Modi will take over as head of the Lalit Kumar Modi (LKM) branch of the KK Modi Family Trust. Additionally, he declared his resignation from his positions as the LKM branch’s manager and the KK Modi Family Trust’s beneficiary.
Lalit Modi appoints sun as successor
In a letter to Bina Modi, Charu Modi, and Samir Modi, who are all trustees of the KK Modi Family Trust, Modi complained that despite numerous rounds of settlement negotiations, the ongoing legal battle between him and his mother and sister had gone on for too long and had caused him a great deal of distress.
As a result, he has chosen to nominate his son Ruchir as the person who would take over running the LKM branch. After speaking with his daughter Aliya Modi, Lalit Modi said in the letter that he had decided to appoint his son as his successor.
He also made his resignation as the director of the LKM branch and a recipient of the KK Modi Family Trust known in a different letter. The businessman’s action follows his recent hospitalisation for COVID-19, at which time he was put on oxygen support.
Taking to Twitter, Lalit Modi wrote, “In light of what I have gone thru, it’s time to retire and move on. And groom my kids. I am handing them all.”
See Lalit Modi’s post here
Lalit Modi, the former IPL founder and chairman, is presently receiving continuous external oxygen support since he suffered two attacks of Covid, “associated by influenza and severe pneumonia,” over the course of two weeks. Lalit said he had the virus in Mexico and had travelled to London by air ambulance when he posted about his health on Instagram on Friday.
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