Lalit Modi, former IPL chairman names his son to succeed him
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Ruchir Modi has been named as the new head of the Lalit Kumar Modi (LKM) Branch of the KK Modi Family Trust (KKMFT) according to former IPL Chairman and Modi family trust member Lalit Modi.
Mr. Modi shared a letter with the following message on Twitter: "In the light of what I've gone through, it's time to retire and move on and groom my kids. I am handling them all."
In the letter, Mr. Modi stated that the LKM Branch members are the KK Modi Family Trust's beneficiaries, and following the passing of his wife, Minal Modi, his two children, Ruchir and Aliya, will be the beneficiaries.
Ruchir's nomination was decided upon, according to Mr. Modi, after talking with his daughter and taking into account his ongoing legal battle with his mother and sister, NDTV reported.
The former IPL Chairman commented on his legal dispute saying, "It is tedious, strenuous and has gone for long and even though there have been several rounds of discussion for settlement, there is no end in sight. It has caused and continues to cause me immense distress."
He informed the Supreme Court last year that the long-running mediation attempt as mandated by the court, to resolve his property issue had been unsuccessful.
Recently, Mr. Modi provided an update on his health and stated, "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."